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The information came from management information circulars filed for fiscal year 2021

This is a ranking of compensation in fiscal 2021 for the chief executive officers from the 100 largest public companies (by market capitalization) in Canada’s benchmark S&P/TSX composite index as of Dec. 31, 2021.

CEOs at Canada’s largest companies saw 23-per-cent pay increase in 2021

Prepared by Global Governance Advisors, the information comes from management information circulars filed for fiscal year 2021.

Editor’s note: An earlier version of this table incorrectly said the value of Unexercised In-the-Money Options for Gerald Schwartz of Onex Corp. was $207,113,925. It is $165,228,500.

CEO Compensation

RankNameOrganization NameIndustryTickerBase SalaryBonusSub-Total% ChangeAll Other CompensationShare-Based AwardsOption-Based AwardsTotal Stock AwardsPension ValueTotal Reported Compensation% ChangeUnexercised In-the-Money OptionsUnvested Share-Based AwardsValue of CEO's EquityAccrued CEO Pension Obligation
1Philip Fayer Nuvei Corp. Information Technology NVEI-T$818,785$1,566,875$2,385,66087%$6,456$58,287,750$80,098,650$138,386,400$0$140,778,5153119%$11,109,987$0$2,284,300,896$0
2Patrick Dovigi GFL Environmental Inc. Industrials GFL-T$1,973,298$6,023,159$7,996,4577%$3,925,898$0$31,518,243$31,518,243$0$43,440,59816%$150,511,206$0$578,901,642$0
3Joseph Papa Bausch Health Companies Inc. Health Care BHC-T$2,005,600$3,068,568$5,074,1683%$37,577$20,759,345$2,820,443$23,579,788$0$28,691,53352%$0$14,435,147$46,315,142$0
4Joe Natale # Rogers Communications Inc. Communication Services RCI-B-T$1,206,980$1,206,980$2,413,960*$14,271,605$4,250,011$4,250,043$8,500,054$2,194,700$27,380,319*$739,967$11,878,122$530,891$7,584,900
5Keith Creel Canadian Pacific Railway Ltd. Industrials CP-T$1,496,068$2,337,606$3,833,674-24%$237,237$7,138,547$14,910,982$22,049,529$608,541$26,728,98159%$122,780,918$16,637,469$42,131,798$3,661,737
6Mark Barrenechea Open Text Corp. Information Technology OTEX-T$1,116,398$2,084,759$3,201,157-3%$39,893$11,270,264$11,765,342$23,035,606$0$26,276,655101%$0$14,908,247$78,313,454$0
7Tobias Lütke Shopify Inc. Information Technology SHOP-T$1$0$1-100%$0$0$25,070,573$25,070,573$0$25,070,57424%$59,197,579$0$13,754,303,582$0
8Darren Entwistle Telus Corp. Communication Services T-T$1,543,750$1,111,500$2,655,25041%$140,133$13,111,500$0$13,111,500$3,916,000$19,822,88324%$0$26,022,161$37,705,769$0
9Charles Brindamour Intact Financial Corp. Financials IFC-T$1,284,100$2,180,344$3,464,444-5%$0$7,800,000$7,800,000$15,600,000$642,660$19,707,10495%$1,118,640$25,530,973$54,610,788$16,444,774
10Al Monaco Enbridge Inc. Energy ENB-T$1,648,679$4,624,711$6,273,39032%$68,283$8,902,468$2,219,827$11,122,295$1,576,000$19,039,96812%$11,920,831$20,294,894$65,508,350$28,798,000
11Jay Hennick Colliers International Group Inc. Real Estate CIGI-T$1,628,116$16,767,312$18,395,4282013%$0$0$0$0$0$18,395,4282013%$0$0$1,117,293,648$0
12Mark Bristow Barrick Gold Corp. Materials ABX-T$2,256,300$5,821,254$8,077,554-16%$193,309$8,664,192$0$8,664,192$1,211,633$18,146,688-25%$0$19,313,694$140,240,095$2,715,512
13José Cil Restaurant Brands International Inc. Consumer Discretionary QSR-T$1,153,943$2,835,585$3,989,52833%$20,572$13,499,775$0$13,499,775$0$17,509,876-35%$0$78,567,496$92,097,909$0
14Roy Gori Manulife Financial Corp. Financials MFC-T$1,518,805$5,836,575$7,355,38042%$134,644$8,622,705$0$8,622,705$747,457$16,860,18615%$4,279,247$21,300,485$15,092,904$4,863,500
15David McKay Royal Bank of Canada Financials RY-T$1,500,000$4,095,000$5,595,00093%$44,877$7,920,000$1,980,000$9,900,000$1,132,000$16,671,87724%$39,156,435$29,202,094$37,127,624$20,092,000
16Alain Bédard TFI International Inc. Industrials TFII-T$1,754,900$5,264,700$7,019,60015%$3,493,660$4,453,400$0$4,453,400$1,050,001$16,016,66026%$132,128,320$37,221,094$621,763,801$18,049,000
17Sean Boyd # Agnico Eagle Mines Ltd. Materials AEM-T$1,850,078$4,000,169$5,850,2475%$22,024$9,147,888$0$9,147,888$673,239$15,693,39811%$0$13,438,636$12,649,794$21,795,922
18Darryl White Bank of Montreal Financials BMO-T$1,000,000$3,382,500$4,382,50029%$256,873$6,426,750$1,875,750$8,302,500$1,933,864$14,875,73734%$17,461,055$20,661,822$12,558,457$7,056,385
19Steve Hasker (1) Thomson Reuters Corp. Industrials TRI-T$1,495,478$4,994,897$6,490,375*$229,976$6,067,656$2,022,557$8,090,213$0$14,810,564*$18,328,604$18,014,082$0$450,326
20Glenn Chamandy Gildan Activewear Inc. Consumer Discretionary GIL-T$1,557,233$4,671,698$6,228,93160%$143,769$8,095,900$0$8,095,900$77,469$14,546,069-35%$37,276,203$32,120,895$181,298,038$2,679,888
21Michael Dilger # Pembina Pipeline Corp. Energy PPL-T$1,068,182$1,472,880$2,541,062*$6,461,285$3,654,000$1,566,000$5,220,000$123,020$14,345,367*$2,394,516$6,698,820*$4,812,419
22Alexander Pourbaix Cenovus Energy Inc. Energy CVE-T$1,225,000$2,900,000$4,125,00082%$110,710$5,499,987$4,124,998$9,624,985$133,200$13,993,89547%$25,053,577$18,745,775$13,531,831$529,145
23Seetarama Kotagiri (1) Magna International Inc. Consumer Discretionary MG-T$407,388$4,192,958$4,600,345*$0$5,415,120$3,610,080$9,025,200$0$13,625,545*$15,782,819$12,483,607$17,035,174$0
24Jean-Jacques Ruest # Canadian National Railway Co Industrials CNR-T$1,090,545$2,323,649$3,414,194135%$27,724$6,159,399$2,941,900$9,101,299$1,005,000$13,548,21725%$42,329,216$22,421,145$94,911,609$14,274,000
25Jeffrey Orr Power Corporation of Canada Financials POW-T$4,500,000$0$4,500,000-6%$572,500$6,053,737$2,367,500$8,421,237$7,000$13,500,7373%$56,434,522$13,967,384$59,168,061$41,108,000
26Bharat Masrani Toronto-Dominion Bank Financials TD-T$1,450,000$2,374,200$3,824,20018%$112,096$6,401,850$3,153,160$9,555,010$0$13,491,30628%$58,638,481$21,221,859$115,320,310$22,918,700
27Donald Lindsay Teck Resources Ltd. Materials TECK-B-T$1,733,850$3,083,100$4,816,9504%$0$3,752,500$3,752,300$7,504,800$892,000$13,213,7508%$72,310,705$13,081,758$50,715,588$13,575,000
28Ann Fandozzi Ritchie Bros Auctioneers Inc. Industrials RBA-T$1,128,150$1,275,790$2,403,940-39%$0$5,345,607$5,076,700$10,422,307$187,252$13,013,49935%$0$20,614,819$880,539$0
29Brian Hannasch Alimentation Couche-Tard Inc. Consumer Staples ATD-A-T$1,716,644$3,382,511$5,099,1555%$0$5,516,183$1,196,077$6,712,260$1,014,108$12,825,523-2%$34,586,526$5,341,464$37,170,446$15,750,182
30Victor Dodig Canadian Imperial Bank of Commerce Financials CM-T$1,000,000$2,136,960$3,136,96021%$2,250$6,838,272$1,709,568$8,547,840$1,066,000$12,753,05032%$18,415,133$16,637,418$12,321,751$10,525,000
31Brian Porter Bank of Nova Scotia Financials BNS-T$1,300,000$2,516,000$3,816,00011%$4,152$6,038,000$1,509,000$7,547,000$812,000$12,179,1520%$7,443,308$21,674,604$12,833,021$21,722,000
32Bradley Shaw Shaw Communications Inc. Communication Services SJR-B-T$2,000,000$6,122,600$8,122,60012%$422,609$2,880,650$0$2,880,650$518,210$11,944,06974%$2,654,400$9,314,128$343,960,998$134,748,000
33Jeff Puritt Telus International Cda Inc. Information Technology TIXT-T$965,678$1,554,257$2,519,935*$156,508$7,677,688$0$7,677,688$1,503,222$11,857,353*$2,627,940$22,471,383$12,916,284$375,608
34Mark Little Suncor Energy Inc. Energy SU-T$1,235,000$1,960,000$3,195,000104%$126,894$6,750,031$2,258,366$9,008,397-$529,500$11,800,79116%$4,132,308$15,464,645$9,448,321$22,895,452
35Mayo Schmidt # Nutrien Ltd. Materials NTR-T$1,106,454$2,850,227$3,956,682*$103,484$7,060,668$0$7,060,668$638,876$11,759,710*$0$8,807,199*$596,032
36Bruce Flatt Brookfield Asset Management Inc. Financials BAM-A-T$1,034,739$0$1,034,7390%$77,605$10,467,703$0$10,467,703$0$11,580,04731%$0$80,462,451$4,928,923,581$0
37Mirko Bibic BCE Inc. Communication Services BCE-T$1,300,000$3,188,250$4,488,25054%$218,183$6,000,000$0$6,000,000$436,605$11,143,03818%$4,167,182$12,323,336$18,712,637$1,726,348
38Connor Teskey Brookfield Renewable Partners L.P Utilities BEP-UN-T$948,511$1,925,647$2,874,15842%$80,605$8,104,028$0$8,104,028$0$11,058,79143%$36,276,973$34,047,270$739,449$0
39George Schindler CGI Inc. Information Technology GIB-A-T$1,556,353$3,392,850$4,949,203423%$79,230$5,768,343$0$5,768,343$3,161$10,799,937124%$56,489,189$21,613,839$8,400,519$1,822,973
40Louis Vachon National Bank of Canada Financials NA-T$1,125,015$2,140,313$3,265,32839%$4,180$4,302,028$2,118,920$6,420,948$970,000$10,660,45628%$115,065,899$16,614,867$30,633,833$23,558,000
41Gary Berman Tricon Residential Inc. Real Estate TCN-T$1,050,433$4,365,941$5,416,37452%$1,069,236$4,136,550$0$4,136,550$0$10,622,15977%$4,777,089$16,074,884$95,429,470$0
42Galen Weston * George Weston Ltd. Consumer Staples WN-T$1,221,000$3,183,827$4,404,82757%$96,219$3,464,885$2,640,458$6,105,343$0$10,606,38918%$48,102,823$16,171,828$11,535,231,618$0
43Scott Patterson FirstService Corp. Real Estate FSV-T$1,005,056$3,502,530$4,507,586188%$0$0$5,341,414$5,341,414$0$9,849,00031%$79,310,512$0$304,120,458$0
44Neil Rossy Dollarama Inc. Consumer Discretionary DOL-T$1,598,904$2,446,324$4,045,229-2%$0$2,876,452$2,876,500$5,752,952$18,498$9,816,6797%$25,649,113$3,277,991$913,762,210$386,613
45François Poirier (1) TC Energy Corp. Energy TRP-T$1,000,000$1,100,000$2,100,000*$71,923$3,600,000$2,400,000$6,000,000$1,642,000$9,813,923*$1,041,949$2,962,179$3,969,025$4,585,000
46Tim McKay Canadian Natural Resources Ltd. Energy CNQ-T$616,600$1,479,840$2,096,44040%$118,031$4,927,867$2,328,750$7,256,617$0$9,471,08822%$28,302,525$28,508,787$63,092,113$0
47Randall Crawford AltaGas Ltd. Utilities ALA-T$1,159,510$2,203,026$3,362,5362%$51,375$2,921,738$1,949,901$4,871,639$988,276$9,273,8261%$21,992,490$17,972,739$1,870,735$2,682,137
48Alexandre L’Heureux WSP Global Inc. Industrials WSP-T$1,347,837$1,937,912$3,285,74941%$136,760$4,123,500$1,701,007$5,824,507$0$9,247,01634%$40,700,810$10,403,354$39,380,593$0
49Marna Cloete Ivanhoe Mines Ltd. Materials IVN-T$814,775$1,975,829$2,790,604227%$33,143$5,616,722$776,753$6,393,474$0$9,217,221322%$4,413,162$6,073,080$5,085,407$0
50David Hutchens (1) Fortis Inc. Utilities FTS-T$1,378,850$1,737,351$3,116,201*$517,550$5,392,003$0$5,392,003$112,602$9,138,356*$0$14,981,560$5,121,088$11,713,105
51Worthing Jackman Waste Connections Inc. Industrials WCN-T$1,128,150$3,221,495$4,349,64561%$113,728$4,666,955$0$4,666,955$0$9,130,32735%$0$13,451,466$22,200,465$0
52Paul Mahon Great-West Lifeco Inc. Financials GWO-T$1,262,000$3,104,520$4,366,52016%$220,201$3,733,253$1,893,088$5,626,341-$1,120,911$9,092,15116%$13,903,422$13,794,644$8,565,446$30,307,688
53Paul Rollinson Kinross Gold Corp. Materials K-T$1,552,356$1,676,544$3,228,8994%$397,876$4,439,735$0$4,439,735$698,559$8,765,070-15%$7,098,617$6,314,884$18,472,248$7,086,715
54Brad Corson Imperial Oil Ltd. Energy IMO-T$968,956$956,421$1,925,37793%$2,178,025$3,447,056$0$3,447,056$1,200,091$8,750,54994%$63,271,250$10,702,452$5,231,975$0
55Dean Connor # Sun Life Financial Inc. Financials SLF-T$655,769$985,479$1,641,248*$6,125$6,500,039$0$6,500,039$398,737$8,546,149*$14,916,710$20,781,553$27,622,007$8,922,000
56Scott Balfour Emera Inc. Utilities EMA-T$1,098,077$1,288,100$2,386,177-3%$37,349$4,124,917$1,375,101$5,500,018$357,000$8,280,5446%$15,529,157$9,209,912$10,326,003$4,549,000
57José Boisjoli BRP Inc. Consumer Discretionary DOO-T$1,166,041$2,915,104$4,081,1453%$2,268$0$3,576,169$3,576,169$528,000$8,187,582-3%$39,096,944$0$105,686,978$15,983,000
58Gerald Schwartz Onex Corp. Financials ONEX-T$1,629,550$6,267,500$7,897,050353%$0$0$0$0$0$7,897,050-39%$165,228,500$0$1,089,073,210$0
59Ray Ferris West Fraser Timber Co Ltd. Materials WFG-T$984,375$1,650,000$2,634,37542%$0$1,151,505$1,152,452$2,303,957$2,702,300$7,640,63283%$0$0$4,761,067$11,230,400
60Ian Edwards SNC-Lavalin Group Inc. Industrials SNC-T$1,386,884$1,650,041$3,036,92545%$115,325$4,200,000$0$4,200,000$277,377$7,629,627-5%$0$9,581,296$3,631,801$1,520,966
61Michael Medline Empire Company Ltd. Consumer Staples EMP-A-T$1,124,994$2,714,063$3,839,05753%$62,548$1,856,250$1,237,500$3,093,750$496,000$7,491,355-43%$16,969,146$4,671,404$12,396,511$1,202,000
62Marie Inkster # Lundin Mining Corp. Materials LUN-T$1,128,062$1,353,675$2,481,73723%$4,991,304$0$0$0$0$7,473,04131%$3,827,368$0*$0
63Edward Ryan Descartes Systems Group Inc. Information Technology DSG-T$607,948$940,125$1,548,07331%$2,507$5,135,951$742,315$5,878,266$0$7,428,84518%$5,251,150$10,963,304$41,789,425$0
64Marc Parent CAE Inc. Industrials CAE-T$906,847$1,543,440$2,450,287-10%$83,735$1,674,398$2,511,818$4,186,216$686,000$7,406,2380%$27,548,890$10,701,962$20,984,232$12,206,000
65Greg Hicks Canadian Tire Corp.oration Ltd. Consumer Discretionary CTC-A-T$1,100,000$2,636,308$3,736,30899%$218,007$1,781,905$1,187,975$2,969,880$0$6,924,19554%$7,457,024$6,224,299$1,854,674$0
66Jay Forbes Element Fleet Management Corp. Financials EFN-T$1,000,000$1,310,000$2,310,0006%$0$4,500,000$0$4,500,000$0$6,810,00020%$17,875,000$13,360,476$5,152,000$0
67Tim Gitzel Cameco Corp. Energy CCO-T$1,060,900$1,414,000$2,474,9001%$0$3,872,184$0$3,872,184$331,000$6,678,0842%$15,989,858$5,751,064$17,093,412$9,089,100
68Philip Pascall # First Quantum Minerals Ltd. Materials FM-T$1,566,875$1,566,875$3,133,75020%$5,731$3,509,800$0$3,509,800$0$6,649,28132%$14,112,486$16,930,638$177,767,386$0
69Geoffrey Martin CCL Industries Inc. Materials CCL-B-T$1,578,157$2,854,220$4,432,37715%$0$1,686,839$0$1,686,839$263,245$6,382,46113%$1,017,700$21,125,586$44,118,124$7,974,466
70Randy Smallwood Wheaton Precious Metals Corp. Materials WPM-T$1,127,000$2,129,400$3,256,4009%$372,021$2,028,304$676,170$2,704,474$0$6,332,8959%$10,929,705$11,698,535$15,426,376$0
71Gord Johnston Stantec Inc. Industrials STN-T$1,100,016$1,760,000$2,860,01638%$140,433$3,300,003$0$3,300,003$0$6,300,45225%$0$13,873,466$5,953,321$0
72Denis Ricard iA Financial Corp.oration Inc. Financials IAG-T$950,000$1,714,427$2,664,42722%$0$284,995$592,800$877,795$2,444,048$5,986,270-13%$7,011,287$656,833$6,666,705$23,619,607
73Arun Banskota (1) Algonquin Power & Utilities Corp. Utilities AQN-T$966,808$1,270,359$2,237,167*$14,780$2,816,875$605,625$3,422,500$259,452$5,933,899*$242,231$3,108,001$1,877,133$355,449
74Michael Rose Tourmaline Oil Corp. Energy TOU-T$600,000$4,500,000$5,100,00017%$60,000$0$459,564$459,564$0$5,619,56422%$3,885,400$0$666,101,047$0
75James O’Sullivan (1) IGM Financial Inc. Financials IGM-T$1,200,000$2,720,280$3,920,280*$114,606$1,275,000$0$1,275,000$292,639$5,602,525*$6,915,294$2,238,208$1,618,096$374,465
76Galen Weston Loblaw Companies Ltd. Consumer Staples L-T$730,546$2,173,751$2,904,297157%$30,265$1,649,109$824,692$2,473,801$0$5,408,36352%$23,829,165$7,874,993$49,087,635$0
77Michael Steinmann Pan American Silver Corp. Materials PAAS-T$1,225,000$1,071,880$2,296,880-16%$48,000$2,450,000$0$2,450,000$551,250$5,346,130-5%$0$1,972,563$3,683,337$2,686,500
78Eric La Flèche Metro Inc. Consumer Staples MRU-T$1,014,231$1,289,076$2,303,307-5%$5,287$1,223,967$1,020,346$2,244,313$466,000$5,018,907-1%$11,526,574$4,171,678$16,279,171$12,861,000
79Bob Espey Parkland Corp. Energy PKI-T$994,615$1,302,585$2,297,20080%$114,865$1,987,477$562,493$2,549,970$0$4,962,03537%$4,865,691$4,825,664$23,265,650$0
80John McKenzie TMX Group Ltd. Financials X-T$750,000$2,036,250$2,786,25060%$6,306$1,050,000$450,000$1,500,000$520,172$4,812,7287%$4,366,803$934,570$1,434,957$6,178,211
81Paul Brink Franco-Nevada Corp. Materials FNV-T$715,000$1,072,500$1,787,50030%$829,742$2,145,000$0$2,145,000$0$4,762,24237%$18,043,079$5,261,146$38,367,841$0
82Dean Setoguchi (1) Keyera Corp. Energy KEY-T$650,000$821,600$1,471,600*$0$2,986,621$0$2,986,621$64,992$4,523,213*$0$6,580,386$6,645,664$322,424
83Jonathan Gitlin (1) RioCan Real Estate Investment Trust Real Estate REI-UN-T$850,685$947,520$1,798,205*$50,000$1,998,000$457,500$2,455,500$76,700$4,380,405*$1,202,500$4,072,115$2,432,366$1,005,400
84Terry Anderson ARC Resources Ltd. Energy ARX-T$600,000$915,000$1,515,00036%$64,050$2,797,504$0$2,797,504$0$4,376,55413%$0$3,517,781$6,885,157$0
85Lino Saputo Saputo Inc. Consumer Staples SAP-T$1,389,427$2,954,863$4,344,2908%$0$0$0$0$0$4,344,2908%$0$3,344,343$7,442,627$0
86Mark Kenney Canadian Apartment Properties Real Estate Investment Trust Real Estate CAR-UN-T$820,087$1,210,320$2,030,4071%$88,449$2,150,062$0$2,150,062$0$4,268,91813%$0$4,488,785$16,828,635$0
87Michael Emory Allied Properties Real Estate Investment Trust Real Estate AP-UN-T$950,000$1,311,000$2,261,00032%$47,500$1,804,947$0$1,804,947$0$4,113,44740%$3,361,134$1,554,995$59,530,626$0
88John Chen BlackBerry Ltd. Information Technology BB-T$1,253,500$2,507,000$3,760,500-7%$22,409$0$0$0$0$3,782,909-6%$0$17,223,090$106,407,706$0
89Micheal Rousseau (1) Air Canada Industrials AC-T$500,000$0$500,000*$0$250,000$250,000$500,000$2,717,000$3,717,000*$3,128,333$1,167,052$2,285,653$7,794,400
90Scott Medhurst Toromont Industries Ltd. Industrials TIH-T$759,785$1,410,518$2,170,30359%$37,585$0$1,148,253$1,148,253$285,342$3,641,48330%$14,661,027$0$21,026,687$2,938,651
91Brian Hill Aritzia Inc. Consumer Discretionary ATZ-T$1$1$20%$8,400$1,500,000$1,500,000$3,000,000$0$3,008,40235706%$2,584,682$4,772,078$1,307,600,865$0
92Nancy Southern (1) Canadian Utilities Ltd. Utilities CU-T$890,000$0$890,000*$31,150$0$606,000$606,000$1,411,080$2,938,230*$1,192,550$0$8,594,156$33,447,215
93Kevan Gorrie Granite Real Estate Investment Trust Real Estate GRT-UN-T$800,000$1,130,400$1,930,400-12%$0$920,000$0$920,000$0$2,850,400-8%$0$4,348,595$11,269,424$0
94Mike Crawley Northland Power Inc. Utilities NPI-T$697,311$687,400$1,384,71124%$4,059$1,250,000$0$1,250,000$0$2,638,7706%$0$3,404,841$3,214,363$0
95George Paleologou Premium Brands Holdings Corp. Consumer Staples PBH-T$1,100,000$165,000$1,265,0007%$38,361$1,320,000$0$1,320,000$0$2,623,361-16%$0$1,707,403$50,876,972$0
96Pierre Karl Péladeau Quebecor Inc. Communication Services QBR-B-T$1,400,900$1,115,830$2,516,730154%$0$0$0$0$60,300$2,577,030147%$0$0$2,018,567,681$9,754,700
97Mark Poweska Hydro One Ltd. Utilities H-T$513,193$513,193$1,026,3861%$516,223$0$0$0$46,093$1,588,70248%$0$0$3,990,801$127,664
98Dax Dasilva Lightspeed Commerce Inc. Information Technology LSPD-T$0$0$0-100%$3,730$498,340$747,576$1,245,916$0$1,249,647-17%$7,003,810$2,480,255$1,100,845,698$0
99Prem Watsa Fairfax Financial Holdings Ltd. Financials FFH-T$600,000$0$600,0000%$46,290$0$0$0$0$646,290-2%$0$0$338,579,451$0
100Mark Leonard Constellation Software Inc. Information Technology CSU-T$0$0$00%$0$0$0$0$0$00%$0$0$1,009,963,384$0

Source: Global Governance Advisors research based on company filings

Notes:
* Galen Weston’s $10.61-million compensation from George Weston includes his $5.41-million compensation from Loblaw Cos.
# Former CEO
(1) New CEO in 2021.

The Methodology

If a company does not have a CEO, the president or a similar top executive is used. When CEOs have changed during the year, the chart typically shows the CEO who was in place for the larger portion of the year.

For companies that report pay in U.S. dollars, the amounts are converted to Canadian dollars at the average annual exchange rate for 2021. If the company has an irregular year-end, the exchange rate is the rate used by the company for its currency conversion.

Salary is base salary in 2021.

Bonus is the value of any annual and long-term cash incentives paid for 2021 performance, typically paid after the end of the fiscal year.

Total Cash Compensation is the sum of salary and bonus.

Percent change is the change from 2020′s total salary and bonus. No number is shown if the CEO was not in the same position for all of 2020 and 2021.

Other includes all other payments and the cash value of perquisites and benefits.

Share-based awards is the total value of shares, share units, trust units or similar long-term incentive plan grants in 2021.

Option-based awards is the estimated grant date value of new stock options awarded to the CEO in 2021.

Total stock awards is the sum of the values of share-based awards and option-based awards.

Pension value is the additional annual value of the pension benefit earned by the CEO in 2021.

Unexercised in-the-money options is the year-end value of stock options held by the CEO.

Unvested share-based awards is the year-end value of share units or similar compensation that has not yet met time or performance conditions required for payout.

Value of CEO’s equity is the year-end value of common shares owned and vested stock units held by the CEO as per the company’s most recent proxy circular disclosure, valued at the end of the company’s fiscal year. This excludes unvested share units and unexercised stock options. Share holdings may have changes since the end of the fiscal year due to subsequent grants of shares by the company or sales of stock on the open market by the CEO.

Accrued CEO pension obligation is the estimated year-end value of a company’s total expected cost to provide the CEO’s defined-benefit pension. It excludes the value of any defined-contribution pension accrued by the CEO.


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