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V O L . X X I N O. X X I X 14 BO O K O F L I S T S 2 0 16 C O R P O R AT E Maine's highest-paid public company executives Ranked by total annual compensation, 2014 Total annual compensation 1 Salary Bonus Stock awards 2 All other annual compensation 3 Organization's revenue (in millions) Industry 1 Melissa Smith, president/CEO WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $4,499,803 $515,048 N/A $3,392,039 $39,957 $817.6 Payment solutions 2 Jonathan Ayers, president/CEO Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $4,325,266 $800,000 N/A $549,940 $16,709 $1,485.8 Biotechnology 3 Brian McKeon, EVP/CFO/treasurer Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $3,405,857 $496,153 N/A $975,075 $18,164 $1,485.8 Biotechnology 4 Michael Williams, EVP Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $2,179,297 $416,923 N/A $124,992 $876,688 $1,485.8 Biotechnology 5 Steven Elder, SVP/CFO WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,712,152 $330,192 N/A $1,180,145 $27,764 $817.6 Payment solutions 6 Nicola Morris, SVP, corporate development WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,711,148 $261,923 $100,000 $986,740 $209,401 $817.6 Payment solutions 7 Hilary Rapkin, SVP, general counsel WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,522,849 $320,192 N/A $1,006,434 $24,184 $817.6 Payment solutions 8 George Hogan, SVP, international WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,505,694 $297,832 N/A $1,006,434 $21,186 $817.6 Payment solutions 9 Jay Mazelsky, EVP Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $1,318,682 $416,923 N/A $124,992 $16,073 $1,485.8 Biotechnology 10 Johnny Powers, EVP Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $1,315,920 $416,923 N/A $124,992 $13,311 $1,485.8 Biotechnology 11 Daniel Daigneault 4 , former president/CEO The First Bancorp Inc. 223 Main St., Damariscotta 04543 563-3195, www.thefirstbancorp.com $1,206,072 $425,000 $166,044 N/A $17,929 $72.1 5 Financial services 12 Gregory Dufour, president/CEO Camden National Corp. 2 Elm St., Camden 04843 236-8821, www.camdennational.com $1,094,946 $432,308 N/A $240,605 $23,571 $112.8 5 Financial services 13 Curtis Simard, president/CEO of Bankshares and Bar Harbor Bank & Trust Bar Harbor Bankshares 82 Main St., Bar Harbor 04609 288-3314, www.bhbt.com $821,593 $412,500 $50,000 $154,707 $23,402 $51.6 5 Financial services 14 Gerald Shencavitz, EVP/CFO/treasurer of Bankshares and EVP/CFO/COO of Bar Harbor Bank & Trust Bar Harbor Bankshares $618,998 $255,000 N/A $87,685 $17,813 $51.6 5 Financial services Maine's highest-paid public company executives Ranked by total annual compensation, 2014 Total annual compensation 1 Salary Bonus Stock awards 2 All other annual compensation 3 Organization's revenue (in millions) Industry 1 Melissa Smith, president/CEO WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $4,499,803 $515,048 N/A $3,392,039 $39,957 $817.6 Payment solutions 2 Jonathan Ayers, president/CEO Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $4,325,266 $800,000 N/A $549,940 $16,709 $1,485.8 Biotechnology 3 Brian McKeon, EVP/CFO/treasurer Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $3,405,857 $496,153 N/A $975,075 $18,164 $1,485.8 Biotechnology 4 Michael Williams, EVP Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $2,179,297 $416,923 N/A $124,992 $876,688 $1,485.8 Biotechnology 5 Steven Elder, SVP/CFO WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,712,152 $330,192 N/A $1,180,145 $27,764 $817.6 Payment solutions 6 Nicola Morris, SVP, corporate development WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,711,148 $261,923 $100,000 $986,740 $209,401 $817.6 Payment solutions 7 Hilary Rapkin, SVP, general counsel WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,522,849 $320,192 N/A $1,006,434 $24,184 $817.6 Payment solutions 8 George Hogan, SVP, international WEX Inc. 225 Gorham Road, South Portland 04106 773-8171, www.wexinc.com $1,505,694 $297,832 N/A $1,006,434 $21,186 $817.6 Payment solutions 9 Jay Mazelsky, EVP Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $1,318,682 $416,923 N/A $124,992 $16,073 $1,485.8 Biotechnology 10 Johnny Powers, EVP Idexx Laboratories Inc. 1 Idexx Drive, Westbrook 04092 556-0300, www.idexx.com $1,315,920 $416,923 N/A $124,992 $13,311 $1,485.8 Biotechnology 11 Daniel Daigneault 4 , former president/CEO The First Bancorp Inc. 223 Main St., Damariscotta 04543 563-3195, www.thefirstbancorp.com $1,206,072 $425,000 $166,044 N/A $17,929 $72.1 5 Financial services 12 Gregory Dufour, president/CEO Camden National Corp. 2 Elm St., Camden 04843 236-8821, www.camdennational.com $1,094,946 $432,308 N/A $240,605 $23,571 $112.8 5 Financial services 13 Curtis Simard, president/CEO of Bankshares and Bar Harbor Bank & Trust Bar Harbor Bankshares 82 Main St., Bar Harbor 04609 288-3314, www.bhbt.com $821,593 $412,500 $50,000 $154,707 $23,402 $51.6 5 Financial services 14 Gerald Shencavitz, EVP/CFO/treasurer of Bankshares and EVP/CFO/COO of Bar Harbor Bank & Trust Bar Harbor Bankshares 82 Main St., Bar Harbor 04609 288-3314, www.bhbt.com $618,998 $255,000 N/A $87,685 $17,813 $51.6 5 Financial services C O N T I N U E D O N P A G E 1 6 » W ith just nine publicly traded companies, Maine's executive compensation list is dominated by two companies. WEX Inc. (NYSE: WEX), a payment solutions provider based in South Portland, and Idexx Laboratories Inc. (NASDAQ: IDXX), a biotech company based in Westbrook, each has five people. Combined, they hold the top 10 spots on the list, which is 18 executives total. The biggest change on the list is at the top. Melissa Smith, president and CEO of WEX, took over from Michael Dubyak, WEX's former president and CEO (and the previous No. 1 on this list). She became president in May 2013 and CEO in January 2014. The list is based on total annual compensation for 2014 and is based on information provided to the U.S. Securities & Exchange Commission. Smith's total compensation for 2014 was $4.5 million, compared to Dubyak's compensation of $4.75 million for 2013. In both cases, stock awards made up the bulk of the compensation. Smith's base salary was $515,803, while Dubyak's salary was $592,111 in his final year at WEX. Dubyak, who remains at WEX as execu- tive chairman, was CEO for 15 years. He remains the company's largest individual shareholder, with 59,155 shares, according to Yahoo Finance. The company was founded in 1983 as Wright Express Inc., providing fuel cards for commercial and government fleets. WEX continues to grow, increasing its revenue from $717.5 million in 2013 to $817.6 million in 2014. Its market capitalization through Dec. 15 was $3.41 bil- lion. WEX and its subsidiaries have 2,000 employees. Jonathan Ayers, chairman, CEO and president of Idexx, retains a hold on the No. 2 spot on the list, with total compensation of $4.3 million. His base salary was $800,000. Ayers, who has led Idexx since January 2002, is the largest individual shareholder, with 932,084 shares, according to Yahoo Finance. Idexx was founded in 1983 by David Shaw. Idexx products are used for a range of quality as- surances, from water testing to milk safety testing. It has products for the health of livestock and poultry. For the calendar year 2014, it had revenue of $1.486 billion, up from $1.377 billion. Through Dec. 15 of this year, its market cap was $6.48 billion. Idexx has 6,000 employees worldwide. CFOs hold two of the top five positons on the list: Idexx's Brian McKeon had total compensation of $3.4 million, while WEX's Steven Elder came in at $1.7 million. Bankers round out the executive pay list. The high- est paid banker was Daniel Daigneault, who retired as president and CEO of The First Bancorp in January 2015, with compensation of $1.2 million. — P e t e r V a n A l l e n With executive pay, WEX and Idexx dominate Top 10