Mark Walchirk was compensated $4 million in his first year as president and CEO of Patterson Cos. Inc. The big chunk of Walchirk's compensation came from almost $3 million in stock awards, according to a new filing with the Securities and Exchange Commission. He took over the top spot at the Mendota Heights-based dental-and veterinary-supply distributor last November.
The median employee compensation for Patterson employees was $55,269. The CEO compensation to median employee ratio is 115:1 (Walchirk's annualized total compensation for the fiscal year is $6.3 million and is the figure used for the ratio.)
Why pay the CEO so much when Patterson's stock has bascially been cut in half?