In fiscal year 2012, Richard Bracken, chairman and CEO of Nashville, Tenn.-based Hospital Corporation of America, recorded total compensation exceeding $46.3 million — one of the highest, single-year amounts ever doled out to a for-profit hospital executive.
The figures come from HCA's proxy filing with the U.S. Securities and Exchange Commission, released today. Mr. Bracken's base salary remained stable year-over-year, totaling roughly $1.39 million, but his vested stock options exploded.
Because HCA performed well financially, Mr. Bracken's stock appreciation right awards totaled $11.8 million, and he also recorded almost $22 million in other vested stock options. The remainder of his compensation package was comprised of cash incentives ($3.36 million) and pension/deferred earnings ($7.8 million). Overall, the $46.3 million payday was more than eight times his compensation from FY 2011, when he earned $5.7 million but did not vest any stock.
R. Milton Johnson, HCA's president and CFO, was the second-highest-paid HCA executive for 2012. He earned $27.2 million in total compensation. That included a base salary of $891,650, $1.44 million in cash bonuses, $3.63 million in deferred earnings, $5.58 million in stock appreciation right awards and more than $15.7 million in other vested stock options. Mr. Johnson's compensation this past year dwarfed the total from 2011, when he earned $2.76 million.
The next three highest-compensated HCA officers were President of Operations Samuel Hazen, National Group President Charles Hall and President of Operations and Service Lines Group A. Bruce Moore Jr. Mr. Hazen earned $16.9 million, third-most among HCA leaders. Mr. Hall made $12.9 million, while Mr. Moore earned $9.7 million.
In FY 2012, HCA posted more than $1.6 billion in profit, and its revenue surged 11.2 percent to more than $33 billion. HCA is the largest for-profit acute-care hospital operator in the country, with 162 hospitals under its ownership.
The figures come from HCA's proxy filing with the U.S. Securities and Exchange Commission, released today. Mr. Bracken's base salary remained stable year-over-year, totaling roughly $1.39 million, but his vested stock options exploded.
Because HCA performed well financially, Mr. Bracken's stock appreciation right awards totaled $11.8 million, and he also recorded almost $22 million in other vested stock options. The remainder of his compensation package was comprised of cash incentives ($3.36 million) and pension/deferred earnings ($7.8 million). Overall, the $46.3 million payday was more than eight times his compensation from FY 2011, when he earned $5.7 million but did not vest any stock.
R. Milton Johnson, HCA's president and CFO, was the second-highest-paid HCA executive for 2012. He earned $27.2 million in total compensation. That included a base salary of $891,650, $1.44 million in cash bonuses, $3.63 million in deferred earnings, $5.58 million in stock appreciation right awards and more than $15.7 million in other vested stock options. Mr. Johnson's compensation this past year dwarfed the total from 2011, when he earned $2.76 million.
The next three highest-compensated HCA officers were President of Operations Samuel Hazen, National Group President Charles Hall and President of Operations and Service Lines Group A. Bruce Moore Jr. Mr. Hazen earned $16.9 million, third-most among HCA leaders. Mr. Hall made $12.9 million, while Mr. Moore earned $9.7 million.
In FY 2012, HCA posted more than $1.6 billion in profit, and its revenue surged 11.2 percent to more than $33 billion. HCA is the largest for-profit acute-care hospital operator in the country, with 162 hospitals under its ownership.
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