Mike Jackson, chief executive of AutoNation Inc., is getting an increase salary for the first time since 2002. AutoNation said in its proxy filing that Jackson will receive a base salary of $1.25 million this year, representing an increase of $100,000 over his salary for the past 12 years.
Despite his flat salary, Jackson’s overall compensation has varied in the past 12 years due to bonuses, stock options and allowances. In 2013, Jackson received a total pay of $6.28 million, compared to $6.55 million in 2012. He received a bonus of $1.65 million in 2013, down from $2.06 million in 2012. On the other hand, the value of stock options awarded to Jackson in 2013 surged to $3.32 million.
Jackson’s chief lieutenant, chief operating officer Mike Maroone, also received a lower overall pay in 2013 to $5.05 million. He received a total of $5.11 million in 2012. While $1 million base salary was unchanged, his bonus dropped to $1.07 million from $1.34 million. The value of stock options awarded to Maroone surged to $2.66 million, up from $2.53 million.
The compensation packages for AutoNation top two covered items like aircraft and vehicle allowances -- $164,951 for Jackson and $319,425 for Maroone. According to the proxy filing, AutoNation slightly improved its 2013 targets for the performance metrics that guide executive compensation. The company said bonuses were higher in 2012 since it was able to top its performance metric targets for that year by a larger margin.