Rick McKenney, the Chief Executive Officer of Unum Group, earns a total yearly compensation of $19.73 million.
As the head of Unum Group, a prominent provider of financial protection benefits, Rick McKenney's compensation package reflects his leadership role and responsibilities. His total yearly compensation, which stands at $19.73 million, is structured to incentivize performance and align with company success.
Compensation Breakdown
The total compensation for Unum Group's CEO is primarily comprised of a base salary and a significant portion of performance-based incentives, including bonuses, company stock, and options. This structure is common for executives in large corporations, aiming to link executive pay to the company's financial results and shareholder value.
| Compensation Component | Proportion of Total Compensation |
|---|---|
| Total Yearly Compensation | $19.73 million |
| Salary | 5.6% |
| Bonuses (including stock & options) | 94.4% |
This breakdown highlights that the vast majority of his earnings are tied to variable compensation, indicating a strong performance-based pay model.
Equity Ownership
In addition to his annual compensation, Rick McKenney also holds a direct ownership stake in Unum Group. He directly owns 0.39% of the company's shares. This equity stake is valued at approximately $51.56 million, further aligning his financial interests with the long-term success and growth of the company.
Leadership Tenure
Rick McKenney was appointed CEO of Unum Group in April 2015. With a tenure of 9.67 years, he has provided consistent leadership and strategic direction for the company, contributing to its performance and market position within the insurance sector.
