McDonald’s CEO Steve Easterbrook earned $7.9 million in total compensation last year, his first year at the helm of the world’s largest burger chain, according to a filing Friday with the Securities and Exchange Commission.
His base salary last year was $1.025 million. Easterbrook was promoted to the top job on March 1, 2015, and received a raise on March 1 of this year, to $1.3 million. The bulk of his compensation was in the value of his stock and option awards. His stock awards were worth almost $3 million, and the executive’s option awards were worth another $2.1 million.
His performance-based bonus was valued at nearly $1.5 million, and his perks were valued at just over $341,000. Easterbrook’s benefits included $92,250 in company contributions to a profit-sharing plan and a total of $224,235 for extras such as the personal use of a company car and aircraft, financial planning, an annual physical exam, matching charitable donations and security.
Easterbrook’s predecessor, Don Thompson, earned about $2.1 million from McDonald’s in 2015, which included severance. Thompson received payouts of $1.5 million in September 2015 and March of this year. He agreed to a noncompete agreement that extends until March 2017, six months longer than a typical deal with the company, according to the filing.
McDonald’s in recent months has shown signs of an aggressive turnaround effort starting to pay off, with its stock near an all-time high and customer traffic improving at its restaurants. The launch of all-day breakfast in October, spearheaded by Easterbrook, has been a key driver in McDonald’s growth. In January, the Oak Brook-based company said its fourth-quarter earnings rose 10 percent, and sales at established stores growth surpassed Wall Street’s expectations. The company reports earnings for the first quarter next week.
sbomkamp@tribpub.com
Twitter @SamWillTravel
