RALEIGH, N.C. — PRA Health Sciences Inc.’s chief executive officer, Colin Shannon, received a 4.4 percent increase in base salary, according to a Securities and Exchange Commission filing on Monday.
PRA Health Sciences is a contract research organization that offers product development, clinical trial and drug safety management.
Effective July 1, 2018, Shannon’s initial base salary increased from $910,000 in 2017 to $950,000 in 2018.
Shannon is eligible for a bonus opportunity equal to $570,000, or 60 percent of his salary. In 2017, Shannon’s bonus amount equaled to $546,000.
The Raleigh-based company entered into a four-year agreement with Shannon to continue to serve as president and CEO on July 1, 2014. Previously, he served as president and chief operating officer for PRA.
Shannon also received 90,000 in non-qualified stock options with an exercise price of $102.44, along with 30,000 shares of restricted stock, which become vested after three years.
Prior to joining PRA, Shannon acted as executive vice president of global clinical operations at Pharmaceutical Product Development Inc., where he oversaw clinical, biostatistics, and data management operations worldwide.
While at PPD, he held various leadership roles including COO for the company’s European division and chief financial and administration officer for Europe and the Pacific Rim.
Shannon earned his MBA from London’s City University and is a chartered financial analyst.
Its stock closed up 35 cents to $102.03 on Monday.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
