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130 Worcester Business Journal | Book of Lists 2019 | wbjournal.com F O C U S G E N E R A L I N T E R E S T Highest-paid CEOs Ranked by total compensation for most recent fiscal year available for public companies headquartered in Central Mass.(a) Name Total compensation CEO pay ratio/ median employee salary (b) Salary Bonus Non-equity incentive plan compensation Option awards Stock awards Other annual compensation 1 Christopher J. Baldwin, chairman, president & CEO BJ's Wholesale Club Inc., Westborough $42,056,764 N/A (c) $1,230,769 —- $2,203,500 $3,134,752 $35,458,808 —- 2 Stephen P. MacMillan, chairman, president & CEO Hologic Inc., Marlborough $42,040,142 137:1 $87,845 $1,030,000 —- $1,390,500 $12,072,994 $27,183,611 —- 3 Ernie Herrman, president & CEO The TJX Cos. Inc., Framingham $18,822,770 (d) 1,596:1 $11,791 $1,600,001 —- $5,567,597 —- $9,632,857 $409,260 (e) 4 Michael F. Mahoney, chairman, president & CEO Boston Scientific Corp., Marlborough $13,970,901 224:1 $62,447 $1,234,630 —- $2,128,770 $2,499,993 $7,643,884 $311,932 (e) 5 Krishan Canekeratne, chairman & CEO Virtusa Corp., Westborough $8,772,997 605:1 $14,507 $500,000 —- $978,466 —- $7,294,531 —- 6 Christopher J. O'Connell, president & CEO Waters Corp., Milford $8,258,221 105:1 $78,872 $943,269 —- $1,358,083 $3,849,939 $1,649,946 —- 7 John C. Roche, president & CEO The Hanover Insurance Group Inc., Worcester $4,168,271 45:1 $93,723 $899,038 —- $990,000 $1,099,972 $1,100,430 —- 8 Robert J. Willett, president & CEO Cognex Corp., Natick $2,562,093 32:1 $80,625 $376,442 —- $176,252 $1,999,980 —- —- 9 Jeffrey A. Duchemin, president & CEO Harvard Bioscience Inc., Holliston $1,759,305 31:1 $56,811 $551,580 $367,620 —- —- $815,996 (f) —- 10 Valentin P. Gapontsev, chairman & CEO IPG Photonics Corp., Oxford $1,653,996 33:1 $49,703 $1,004,585 —- $568,000 —- —- —- 11 Donald R. Young, president & CEO Aspen Aerogels Inc., Northborough $1,402,387 —- (g) $510,390 —- $51,500 $465,442 $352,498 —- 12 George P. Sakellaris, president & CEO Ameresco Inc., Framingham $1,168,353 10:1 $114,903 $733,333 $400,000 —- —- —- —- 13 Raymond C. Kubacki, chairman, president & CEO Psychemedics Corp., Acton $788,460 —- (g) $512,500 $105,000 —- $160,160 —- —- 14 Edward Terino (h), former CEO SeaChange International Inc., Acton $777,700 (i) —- (g) $463,790 —- —- $154,980 $159,000 —- 15 Douglas A. Starrett, president, CEO & director The L.S. Starrett Co., Athol $641,010 21:1 $31,044 $425,000 —- —- —- $132,830 $67,371 (e) 16 Salvatore Emma Jr., former president & CEO Micron Solutions Inc., Fitchburg $252,003 —- (g) $222,032 —- —- $29,971 —- —- 17 William J. Laursen (j), president & CEO Micron Solutions Inc., Fitchburg $119,760 —- (g) $19,385 $12,500 —- $87,876 —- —- Source: The U.S. Securities & Exchange Commission proxy statements. Notes: Following the $6.9-billion acquisition by N.Y., New York-based Sycamore Partners, Framingham's Staples Inc. is no longer a public company. Dell EMC Inc. began trading on Dec. 28, 2018. Compensation data for Ayer's AMSC and Marlborough's Phio Pharmaceuticals Corp. was unavailable at press time. N/A = not available. For the full list, see WBJ's digital edition. (a) Compensation is for fiscal year 2018 unless otherwise noted. (b) Disclosure requirement is a component of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act; see company filings for details on how pay ratio and median compensation were calculated. (c) Unable to confirm CEO pay ratio, an exemption for the reporting requirement or the basis for such an exemption by press time; neither BJ's Wholesale Club investor relations, nor the Boston Regional Office of the SEC, returned WBJ's e-mails or phone calls by press time. (d) All figures for fiscal year ending Feb. 2, 2019 (e) Change in pension value and nonqualified deferred compensation earnings (f) Time-based and market-condition restricted stock units (g) Exempt from reporting requirement Christopher Baldwin Thanks to $35.5 million in stock awards, BJ's Wholesale Club CEO Christopher Baldwin has become the best paid CEO of a public company in Central Massachusetts with a 2018 pay of just over $42 million. Baldwin, who became the Westborough wholesale compa - ny's CEO in 2015, was paid a 2018 salary of $1.2 million, but was paid a hefty sum after the company went public in 2018. According to the company's U.S. Securities and Exchange fil - ings, Baldwin and the company agreed to an IPO equity award in March 2018 where BJ's granted Baldwin more than 1.4 million of the company's shares. Those shares became fully vested a month after the IPO. Similar to Baldwin, Marlborough medical device manufacturer Hologic paid more stock awards to its CEO Stephen MacMillan than it did actual sal - ary, resulting in a total pay of more than $42 million, making him the second highest-paid Central Mass. public company CEO. - Zachary Comeau Baldwin highest paid Central Mass. CEO Source: The U.S. Securities & Exchange Commission proxy statements. Notes: Following the $6.9-billion acquisition by N.Y., New York-based Sycamore Partners, Framingham's Staples Inc. is no longer a public company. Dell EMC Inc. began trading on Dec. 28, 2018. Compensation data for Ayer's AMSC and Marlborough's Phio Pharmaceuticals Corp. was unavailable at press time. N/A = not available. For the full list, see WBJ's digital edition. (a) Compensation is for fiscal year 2018 unless otherwise noted. (b) Disclosure requirement is a component of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act; see company filings for details on how pay ratio and median compensation were calculated. (c) Unable to confirm CEO pay ratio, an exemption for the reporting requirement or the basis for such an exemption by press time; neither BJ's Wholesale Club investor relations, nor the Boston Regional Office of the SEC, returned WBJ's e-mails or phone calls by press time. (d) All figures for fiscal year ending Feb. 2, 2019 (e) Change in pension value and nonqualified deferred compensation earnings (f) Time-based and market-condition restricted stock units (g) Exempt from reporting requirement (h) Resigned on Feb. 24, 2019 (i) All figures for fiscal year ending Jan. 31, 2019 (j) Appointed Nov. 29, 2018 - Compiled by: Stephanie R. Meagher, smeagher@nebusinessmedia.com