Compensation packages for the highest-paid chief executives in Massachusetts again rose in fiscal 2023, according to a Boston Business Journal analysis of companies’ regulatory filings.
This year, unlike previous ones, there were no massive stock awards pushing total compensation into nine figures. In fact, the top pay package last year, more than $35 million to Chewy CEO Sumit Singh, is the lowest figure for the state since 2019, according to a Boston Business Journal analysis of companies’ regulatory filings.
But the median of the 25 biggest pay packages was up last year by 7% — a significant increase, although not as much as some recent years. It coincided with a strong stock market, which increased the value of stock awards.