First Hawaiian Bank’s Bob Harrison has supplanted his chief rival and become the state’s highest-paid CEO of a publicly traded company.
Harrison, 57, received a pay package in 2017 worth $5.8 million, according to a recent regulatory report filed by the state’s largest bank with the Securities and Exchange Commission.
Bank of Hawaii CEO Peter Ho, 52, who had been the highest-paid CEO for the three previous years, received $4.7 million, according to the company’s filing with the SEC.
Matt Cox, 56, chairman and CEO of ocean transportation company Matson Inc., was a close third at $4.4 million, up 7.5 percent from $4.1 million in 2016, according to a company filing.
Hawaiian Airlines and Hawaiian Electric Industries Inc., whose CEOs typically receive more than $3 million, have not yet reported their executive compensation to the SEC.
The SEC requires companies to list the compensation of their CEO, chief financial officer and the other three most highly compensated employees serving as executive officers at year-end. Companies typically release the information in March or April ahead of their annual shareholders’ meetings.
Harrison, who also doubles as chairman, saw his total compensation jump
10.4 percent over the
$5.2 million he received in 2016 when the company went public. His 2017 compensation included a salary of $1.1 million, bonus of $775,000, stock awards worth $1.3 million, nonequity incentive plan compensation (annual cash payment tied to meeting certain corporate goals) of
$1.1 million, a change in pension value and nonqualified deferred compensation earnings of $1.3 million and other compensation worth $135,135.
Ho, who also is chairman and president of the state’s second-largest bank, saw his pay package decline 6.8 percent from $5 million in 2016. For 2017 he had a salary of $780,000, no bonus (as has been the case in recent years), stock awards of
$1.8 million, nonequity incentive plan compensation of $1.9 million, a change in pension value and nonqualified deferred compensation earnings of $2,162 and other compensation worth $204,291.
First Hawaiian President Eric Yeaman, 50, whose compensation is higher than many CEOs in the state, received a pay package of
$3.6 million, up 13.2 percent from $3.1 million in 2016.