The compensation committee of for-profit Universal Health Services, based in King of Prussia, Pa., has approved bonus criteria for this year's compensation plans of for the company's five primary executives, according to a filing with the U.S. Securities and Exchange Commission.
UHS Chairman and CEO Alan Miller could receive bonuses of up to 100 percent of his base salary, while President Marc Miller — Alan Miller's son — could earn bonuses of up to 65 percent of base salary. The bonuses of CFO Steve Filton, Senior Vice President Debra Osteen and Senior Vice President Marvin Pember could value up to 50 percent of their salaries.
The executives' incentive bonuses for 2013 will be based on a specified range of target levels of adjusted net income per diluted share attributable to UHS, as well as a range of target levels related to the company's net income divided by quarterly average net capital. These bonuses will be paid out in 2014.
The 2012 compensation packages of UHS executives will be released within the next month or so. Last year, Alan Miller recorded $12.5 million in total pay, and more than $2.7 million of that total represented bonuses and incentives.
UHS Chairman and CEO Alan Miller could receive bonuses of up to 100 percent of his base salary, while President Marc Miller — Alan Miller's son — could earn bonuses of up to 65 percent of base salary. The bonuses of CFO Steve Filton, Senior Vice President Debra Osteen and Senior Vice President Marvin Pember could value up to 50 percent of their salaries.
The executives' incentive bonuses for 2013 will be based on a specified range of target levels of adjusted net income per diluted share attributable to UHS, as well as a range of target levels related to the company's net income divided by quarterly average net capital. These bonuses will be paid out in 2014.
The 2012 compensation packages of UHS executives will be released within the next month or so. Last year, Alan Miller recorded $12.5 million in total pay, and more than $2.7 million of that total represented bonuses and incentives.
More Articles on Hospital Executive Compensation:
How Can Hospitals Battle Community Perception of Executive Pay?
3 Mayo Clinic Executives Earned More Than $1M in 2011
10 Statistics on HCA Executive Salaries in 2012