Hologic CEO's pay, once $42M, returns to $12M
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Hologic CEO Stephen MacMillan
A year ago, the CEO of Hologic, Inc. took home $42 million in total compensation, making Stephen MacMillan one of the country's highest-paid executives.
This year, MacMillan's compensation has returned to a more typical level. MacMillan made just under $12.4 million, according to U.S. Securities & Exchange Commission filings the Marlborough medical device company made Jan. 22 in advance of its annual shareholders meeting March 5.
Last year's pay was certainly an aberration for MacMillan and Hologic, and a head-turning one at that.
Hologic gave MacMillan $39 million in stock awards and options, including a $30-million special retention equity grant the Hologic board voted unanimously in 2017 to give MacMillan as a perk to keep him with the company. Other companies were looking to lure him away, the company said then, and Hologic, noting the growth and financial strides the company had made under his tenure, wanted badly to keep him. The year before his $42-million payday, MacMillan made about $11 million in total compensation.
MacMillan joined Hologic in 2013 when the company said it had $4 billion in debt with declining sales and earnings.
MacMillan's new base pay of $1,060,900 was a 3% increase over last year. His pay for the year also included more than $9 million in stock awards and options.
MacMillan wasn't the only Central Massachusetts CEO to take home more than $40 million last year. BJ’s Wholesale Club CEO Christopher Baldwin, thanks to $35 million in stock awards, also made $42 million — and topped MacMillan by $16,622.
Baldwin's 2019 compensation is due to be released in the spring.
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