MarineMax executive pay swells in 2015

In recognition of improved performance and an effort to compete with salaries paid by similar firms, a Clearwater recreational boat dealer increased pay packages for its top executives, jumping between 41 and 59 percent.

William McGill Jr., chairman, president and CEO, was the highest-paid executive in the fiscal year that ended Sept. 30. at MarineMax(NYSE: HZO). He received $2.07 million in total compensation, up 53.4 percent from the previous year.

McGill's salary increased 4.5 percent, to $575,000, and he received nearly $725,000 in cash incentives and $769,000 in stock awards, both tied to performance.

Margie Manning, Tampa Bay Business Journal

Dec 24, 2015, 10:59am EST Updated Dec 24, 2015, 12:42pm EST

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Apple’s bold compensation plan has the company and CEO Tim Cook facing a challenging year

Back in the summer of 2013, facing a modest shareholder revolt, Apple CEO Tim Cook did one of the more remarkable things I’ve seen in years of writing about corporate compensation:

He volunteered to rewrite the rules for the restricted stocks units he had already been granted.

He was under no obligation to do so. But shareholders had seen the company’s stock cut almost in half over the past year and were getting nervous. There was lots of thumb-sucking over whether Apple could still innovate under the leadership of the man who had replaced Steve Jobs.

CHRIS O'BRIEN JANUARY 7, 2016 2:49 AM

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Regulations Limiting Executive Compensation and Administrative Costs of State-Funded Providers Upheld by Appellate Division, Second Department

On December 30, 2015, the New York State Appellate Division, Second Department issued a decision in Agencies for Children’s Therapy Servs., Inc. v. N.Y. St. Dep’t of Health,1upholding the regulations promulgated by the Department of Health (“DOH”) pursuant to Executive Order 38 limiting executive compensation and administrative costs for certain State-funded providers.2  The Court’s decision resolves a lower court split within the Second Department3 by reversing the Supreme Court, Nassau County’s prior ruling that adoption of the regulations had exceeded DOH’s statutory authority and violated the separation of powers doctrine, and upholding a Supreme Court, Suffolk County decision that found Executive Order 38 and the regulations to be constitutional.  Previously issued Clients & Friends Memoranda discuss the regulations and litigation challenging them in greater detail.4 

Cadwalader, Dec 31, 2015

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