News Summary
Stephanie Ferris, CEO of Fidelity National Information Services Inc. (FIS), has been named Jacksonville’s highest-paid CEO for the second consecutive year, with a total compensation of $21.2 million in 2024. This represents a 6.8% increase from her $19.4 million package in 2023, driven primarily by stock awards totaling approximately $17.6 million. Despite the competitive landscape with other CEOs in Jacksonville earning lower compensation, the rise in executive pay continues amid broader economic factors that may influence future trends in remuneration.
Jacksonville – Stephanie Ferris, the chief executive officer of Fidelity National Information Services Inc. (FIS), has again secured her position as Jacksonville’s highest-paid CEO, with a total compensation of $21.2 million in 2024. This marks the second consecutive year Ferris has dominated the compensation rankings among CEOs of companies based in the area.
Ferris’s total remuneration reflects a notable increase from her previous year’s package of $19.4 million in 2023, signaling a robust performance in her first full year at the helm of FIS. This increase of 6.8% is slightly below the median pay increase of 7.5% reported for S&P 500 CEOs, as detailed by ISS-Corporate. The median compensation for S&P 500 chief executives in 2024 was noted at $16.8 million.
A significant portion of Ferris’s compensation package comes from stock awards, which amounted to approximately $17.6 million. Additionally, her base salary and cash incentive payments constituted roughly $3.5 million. In comparison, the median shareholder return for large companies, which may influence executive pay, stood at 15.1% in 2024.
Other CEOs in Jacksonville also reported lower compensation packages compared to Ferris, with Joseph Hinrichs of CSX Corp. earning $15.4 million, comprising $9.1 million in stock awards and $2.3 million in stock options. Lisa Palmer from Regency Center Corp. earned about $9.6 million, with stock awards valued at $5.7 million. Furthermore, Richard O’Dell from Proficient Auto Logistics received a total compensation of $18.8 million, mostly from stock awards worth $18.2 million following the company’s IPO in May 2024, with a cash component of $650,000.
In total, five other CEOs of Jacksonville-based firms also had compensation exceeding $10 million, highlighting a competitive pay landscape within the region.
The upward trend in executive compensation also comes amid broader economic factors that could influence future pay packages. Roy Saliba, a managing director at ISS-Corporate, has noted that market conditions, including tariffs and the potential for an economic recession, may impact overall CEO compensation increases moving forward. These external factors could lead companies to reassess their executive pay strategies to maintain shareholder satisfaction.
The analysis of Ferris’s compensation and that of other executives is based on proxy filings from 320 S&P 500 companies for shareholder meetings in 2024. These filings form a vital part of the corporate governance landscape, presenting shareholders with insights into executive remuneration and the performance measures linked to such pay packages.
As FIS continues to navigate the challenges and opportunities in the financial services sector, Ferris’s leadership and financial success will likely remain a focal point for both stakeholders and industry observers. The considerable compensation awarded to her and her peers underscores the evolving standards in executive pay and the continued emphasis on stock performance as a key determinant in their remuneration.
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Additional Resources
- Jax Daily Record: Ferris Again Tops in CEO Compensation
- Wikipedia: CEO Compensation
- Jacksonville.com: JEA Will Vote on $700,000 Salary for CEO Vickie Cavey
- Google Search: JEA CEO Salary
- Jax Daily Record: CSX Earnings Fall but CEO Says Tariffs Aren’t an Issue
- Google Scholar: Executive Compensation Trends
- Jacksonville.com: In Elite Company – Top Compensation Packages for CEOs at Jacksonville-Based Companies
- Encyclopedia Britannica: Compensation and Benefits
- Jacksonville.com: Former JEA Administrator Vickey Cavey Replaces Jay Stowe as Interim CEO
- Google News: Executive Pay Florida