Patrick Dovigi gets $41-million pay package in 2021, while Tobi Lutke tops $20-million
said CEO Tobias Lutke made just more than US$20-million, up from US$15.11-million in 2020 and US$10.62-million in the year prior.at the top of the list of richest Canadians
Mr. Lutke received just a $1 salary and no cash bonus or other perquisites. All of his pay came from his US$20,000,457 grant of Shopify options. For much of its life as a public company, Shopify has been a superstar stock, and the value of Mr. Lutke’s options has skyrocketed beyond the estimates provided in the company circulars. GFL’s share price has not been as meteoric, but Mr. Dovigi has already had the opportunity to make millions from options granted in GFL’s 2020 initial public offering year.
Mr. Dovigi’s annual cash incentive increased from $5.43-million in 2020. GFL says it paid out 2021 bonuses based on maximum achievement of its financial and non-financial goals. Option grants drove compensation for GFL’s other best-paid executives. The company estimated chief financial officer Luke Pelosi’s pay at $9.44-million, up from $5.10-million in 2020. The value of a stock-option grant made up more than 70 per cent of the 2021 total. Greg Yorston, the company’s chief operating officer of solid waste, made $6.94-million, up from $4.14-million, while chief legal officer Mindy Gilbert made $5.50-million, up from $2.63-million in 2020.
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