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Business Observer Monday, Dec. 19, 2011 10 years ago

Explosive Jabil pays CEO $10.3M

Timothy Main's pay grew 5% as the firm set a new record with its revenues.

ST. PETERSBURG -- Jabil Circuit CEO Timothy Main earned $10.3 million in total compensation in the company's 2011 fiscal year, as the firm set a new record with its revenues.

Jabil brought in more than $16.5 billion in its recently completed fiscal year, a filing with the Securities and Exchange Commission shows. The total represents a 23% over-the-year increase.

Operating income was up 77% to $578.7 million, and net income grew 126% to $381.1 million.

Main's base salary grew by 5%, to $1.05 million, while his stock-based compensation increased 23.4% to $7.28 million. He also received $1.97 million in cash-based incentive pay, bringing total compensation to $10.3 million, up 5% from last year's pay of $9.8 million.

Jabil's stock price traded slightly above $19 early Monday, up more than 20% from its 52-week low around the $14 mark, which was last reached in August.

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