Rich Hume, CEO of Tech Data Corp., received total compensation of $5.5 million in the fiscal year that ended Jan. 31, a 15 percent increase in total pay from a year earlier.
Hume and four other top executives at Tech Data (Nasdaq: TECD) saw their pay go up as the Clearwater-based IT distributor posted increased income, improved operating cash flow and what the company said was an industry-leading return on invested capital.
Tech Data, the largest public company headquartered in the Tampa-St. Petersburg area based on its $37 billion in revenue, detailed its executive compensation in a filing with the U.S. Securities and Exchange Commission late Thursday. It’s likely the last such disclosure for the company, which is on track to go private after it is acquired by affiliates of Apollo Global Management in a $6 billion deal expected to close by the end of June. Shareholders approved the acquisition in February.
In addition to the financial milestones achieved in FY 20, the Apollo deal was the company’s biggest milestone yet, Tech Data said.
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Hume’s total pay package included $937,615 in salary, a $60,000 increase from a year ago. He received a cash incentive payment of $1.7 million and stock awards valued at $2.8 million at the time they were granted.
Other Tech Data executives and their total compensation packages listed in the filing are:
• Charles Dannewitz, executive vice president and chief financial officer, $2.66 million
• Joseph Quaglia, president, the Americas, $2.5 million
• David Vetter, executive vice president and chief legal officer, $2.2 million
• Patrick Zammit, president, Europe, $2.67 million
The compensation for Tech Data’s median employee was $56,988, Tech Data said. Hume was paid $98 for every $1 paid to the median worker.
Tech Data’s board of directors received annual cash retainers of $80,000, additional cash payments for committee service, and stock grants valued at $150,000.
Robert Dutkowsky, the former Tech Data CEO who now serves as executive chairman of the company, was the highest-paid director, at $678,462 in cash and stock in FY 20. That includes Dutkowsky’s $300,000 annual salary as a continuing employee of the company.