Issue link: https://nebusinessmedia.uberflip.com/i/1191320
W W W. M A I N E B I Z . B I Z 91 BO O K O F L I S T S 2 0 2 0 S A L A R I E S 1 Total annual compensation includes salary, bonus, stock and option awards, non-equity incentive plan compensation, change in pension value and nonqualified deferred compensation earn- ings, where applicable. 2 Effective for 2018 filings, and pursuant to Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(u) of Regulation S-K, companies are required to disclose the pay ratio of the CEO to median employee. 3 All other annual compensation includes items such as relocation expenses, car allowances, life insurance, matched 401(k) plans and other retirement plans. 4 Resigned and succeeded by Jay Mazelsky, who was appointed as permanent president and CEO effective Nov. 1, 2019, having served as interim leader since June. Ayers will continue work as director and senior advisor to the board. 5 Effective Nov. 1, 2019, appointed as permanent president and CEO, having served as interim leader since June; succeeds Jonathan Ayers, who will continue work as director and senior advi- sor to the board. 6 Became an executive officer on May 9, 2018. This list was compiled by Stephanie R. Meagher and published in the Aug. 5, 2019 issue of Mainebiz. N O T E S : According to the U.S. Securities & Exchange Commission, public companies must report compensation paid to their CEO and four other highest-paid officers. Generally, companies are not required to report salaries of employees earning less than $100,000 per year. Some executives may no longer be in the same position or at the company. Portland's Covetrus Inc. did not pay any compensation to its named executive officers in 2018; historical compensation paid by the Animal Health Business and Vets First Choice is not indicative of future compensation, nor was it reported in the company's 10K filing. S O U R C E : U.S. Securities & Exchange Commission company proxy statements (14A), annual reports and company websites Is a Proud Androscoggin Bank is honored to receive this prestigious recognition. The Aon Best Employer certification evaluates employee opinions to measure effective leadership, talent focus, organizational agility and employee engagement. Learn more and come work for the best at: androscogginbank.com/bestemployer Androscoggin Bank is an Equal Opportunity Employer and does not discriminate on the grounds of race, color, religion, sex, sexual orientation - including gender identity and gender expression, national origin, citizenship status, age, disability, genetic information or veteran status. WEX Inc. 225 Gorham Road , South Portland 04106 773-8171 , wexinc.com $58,919 solutions 11 Michael J. Lane 6 , VP IDEXX Laboratories Inc. 1 IDEXX Drive , Westbrook 04092 556-0300 , idexx.com $1,357,675 129:1 $52,734 $365,385 $175,051 $22,702 $2,213.2 Biotechnology 12 Curtis Simard , president & CEO of Bankshares and Bar Harbor Bank & Trust Bar Harbor Bankshares 82 Main St. , Bar Harbor 04609 288-3314 , bhbt.com $1,241,216 22:1 $55,330 $605,000 $302,481 $30,235 $155.4 Financial services 13 Richard Wayne , president & CEO Northeast Bancorp 500 Canal St. , Lewiston 04240 786-3245 , northeastbank.com $1,014,957 18:1 $55,516 $600,000 $0 $14,957 $72.9 Financial services 1 Total annual compensation includes salary, bonus, stock and option awards, non-equity incentive plan compensation, change in pension value and nonqualified deferred compensation earnings, where applicable. 2 Effective for 2018 filings, and pursuant to Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(u) of Regulation S-K, companies are required to disclose the pay ratio of the CEO to median employee. 3 All other annual compensation includes items such as relocation expenses, car allowances, life insurance, matched 401(k) plans and other retirement plans. 4 Resigned and succeeded by Jay Mazelsky, who was appointed as permanent president and CEO effective Nov. 1, 2019, having served as interim leader since June. Ayers will continue work as director and senior advisor to the board. 5 Effective Nov. 1, 2019, appointed as permanent president and CEO, having served as interim leader since June; succeeds Jonathan Ayers, who will continue work as director and senior advisor to the board. 6 Became an executive officer on May 9, 2018. NOTES: According to the U.S. Securities & Exchange Commission, public companies must report compensation paid to their CEO and four other highest-paid officers. Generally, companies are not required to report salaries of employees earning less than $100,000 per year. Some executives may no longer be in the same position or at the company. Portland's Covetrus Inc. did not pay any compensation to its named executive officers in 2018; historical compensation paid by the Animal Health Business and Vets First Choice is not indicative of future compensation, nor was it reported in the company's 10K filing. This list was compiled by Stephanie R. Meagher and published in the Aug. 5, 2019 issue of Mainebiz. SOURCE: U.S. Securities & Exchange Commission company proxy statements (14A), annual reports and company websites Maine's highest-paid public company executives Ranked by total annual compensation, 2018 Total annual compensation 1 CEO pay ratio/ 2 median employee Salary Stock awards All other annual compensation 3 Organization's revenue (in millions) Industry 1 Jonathan Ayers 4 , former president & CEO IDEXX Laboratories Inc. 1 IDEXX Drive , Westbrook 04092 556-0300 , idexx.com $6,819,950 129:1 $52,734 $800,000 $0 $24,062 $2,213.2 Biotechnology 2 Melissa Smith , president & CEO WEX Inc. 225 Gorham Road , South Portland 04106 773-8171 , wexinc.com $5,630,717 96:1 $58,919 $729,615 $2,699,878 $88,758 $1,492.6 Payment solutions 3 Roberto Simon , CFO WEX Inc. 225 Gorham Road , South Portland 04106 773-8171 , wexinc.com $4,037,885 96:1 $58,919 $500,000 $999,697 $37,822 $1,492.6 Payment solutions 4 Brian McKeon , EVP, CFO & treasurer IDEXX Laboratories Inc. 1 IDEXX Drive , Westbrook 04092 556-0300 , idexx.com $2,905,934 129:1 $52,734 $570,577 $449,928 $19,059 $2,213.2 Biotechnology 5 Jay Mazelsky 5 , former EVP, current president & CEO IDEXX Laboratories Inc. 1 IDEXX Drive , Westbrook 04092 556-0300 , idexx.com $2,897,125 129:1 $52,734 $555,385 $449,928 $25,442 $2,213.2 Biotechnology 6 Scott Phillips , president, Global Fleet WEX Inc. 225 Gorham Road , South Portland 04106 773-8171 , wexinc.com $2,119,355 96:1 $58,919 $475,000 $999,697 $35,580 $1,492.6 Payment solutions 7 Melanie Tinto , Chief human resources manager WEX Inc. 225 Gorham Road , South Portland 04106 773-8171 , wexinc.com $2,055,241 96:1 $58,919 $302,885 $1,059,508 $137,160 $1,492.6 Payment solutions 8 Kathy V. Turner 6 , VP IDEXX Laboratories Inc. 1 IDEXX Drive , Westbrook 04092 556-0300 , idexx.com $1,935,853 129:1 $52,734 $387,500 $187,530 $510,811 $2,213.2 Biotechnology 9 Gregory Dufour , president & CEO Camden National Corp. 2 Elm St. , Camden 04843 236-8821 , camdennational.com $1,568,237 33:1 $47,021 $597,692 $310,106 $52,323 $189.6 Financial services 10 Jeffrey Young , president, Health WEX Inc. 225 Gorham Road , South Portland 04106 773-8171 , wexinc.com $1,433,215 96:1 $58,919 $450,000 $479,912 $14,000 $1,492.6 Payment solutions 11 Michael J. Lane 6 , VP IDEXX Laboratories Inc. 1 IDEXX Drive , Westbrook 04092 556-0300 , idexx.com $1,357,675 129:1 $52,734 $365,385 $175,051 $22,702 $2,213.2 Biotechnology 12 Curtis Simard , president & CEO of Bankshares and Bar Harbor Bank & Trust Bar Harbor Bankshares 82 Main St. , Bar Harbor 04609 288-3314 , bhbt.com $1,241,216 22:1 $55,330 $605,000 $302,481 $30,235 $155.4 Financial services 13 Richard Wayne , president & CEO Northeast Bancorp 500 Canal St. , Lewiston 04240 $1,014,957 18:1 $55,516 $600,000 $0 $14,957 $72.9 Financial services