All five of Leggett & Platt Inc.'s (NYSE: LEG) top executives recorded compensation increases in 2021, the company disclosed in a proxy filing.
Karl Glassman, who retired Dec. 31 as CEO of the Carthage-based manufacturer, reported total compensation last year of $9.2 million, a 5.4% increase from 2020 due largely to higher stock awards , according to the filing with the U.S. Securities and Exchange Commission. Glassman remains with the company as executive chair of its board.
Mitch Dolloff, the company's former chief operating officer who became CEO on Jan. 1, was the company’s second highest-paid officer last year. His total compensation rose nearly 14% to $4.2 million from $3.7 million in 2020.
The company's top officers, by 2021 total compensation, are:
• Glassman, $9.2 million, up 5.4%;
• Dolloff, $4.2 million, up 13.8%;
• Jeffrey Tate, chief financial officer, $2.6 million, up 4.5%;
• Steven Henderson, president of specialized products and furniture, flooring and textile segments, $2.3 million, up 10.7%; and
• Scott Douglas, general counsel, $1.8 million, up 4.3%.
Leggett & Platt, which manufactures engineered components and products for homes, offices and vehicles, in 2021 produced earnings of $402.4 million, a 59% increase from a year earlier, according to past reporting. Sales were up 19% to $5.1 billion.
LEG shares were trading at $34.02 as of 9:51 a.m., compared with a 52-week range of $33.80 to $59.16 per share.
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