The chief executive officer of business software company Red Hat received $11.1 million in total compensation in its 2017 fiscal year, according to a filing Thursday with the Securities and Exchange Commission.
The compensation for James Whitehurst was down 12.5 percent from the $12.7 million he received in total compensation in the 2016 fiscal year. His pay was $16.7 million in the 2015 fiscal year.
Whitehurst’s base salary rose to $1 million in the 2017 fiscal year from $975,000 in 2016. He also received $9.1 million in stock awards in 2017, down from $9.6 million in 2016.
He also received nearly $1 million in non-equity incentive plan compensation.
Red Hat’s stock rose 10 percent on Wednesday after the company reported first-quarter earnings and revenue that easily surpassed Wall Street expectations.
In the 2017 fiscal year, Red Hat reported revenue of $2.4 billion and an operating income of $332 million, up from revenue of $2 billion and operating income of $288 million in the 2016 fiscal year.
Arun Oberol, the executive vice president of global sales and service, received $7.8 million in total compensation in the 2017 fiscal year, up 49.7 percent from the $5.3 million he received in 2016.
Red Hat’s annual shareholder meeting will be Aug. 10 at 8:30 a.m. at the company’s headquarters.
The company’s shares rose 30 cents to $98.88 on Friday. The company’s shares have risen 37 percent in the past year.
Note: This story is from the North Carolina Business News Wire, a story from the UNC-Chapel Hill School of Media and Journalism
