UPS CEO's Total Compensation More Than Doubles in 2014

By Tess Stynes 

United Parcel Service Inc. on Tuesday said Chief Executive David P. Abney's total compensation for 2014 more than doubled, including a base salary increase he received in September when he was promoted to the helm of the package-delivery giant.

Mr. Abney, who had been the company's chief operating officer, succeeded Scott Davis, who retired as CEO but stayed on as chairman. The move signaled the U.S. shipping giant's growing focus on its international operations.

Mr. Abney's total compensation package rose to nearly $8.4 million in 2014 from $4.1 million in 2013, according to a filing with the Securities and Exchange Commission. The pay package included an increase in his base salary to $674,546 from $499,494. However, most of the pay increase was in the form of stock awards, which rose to $5.4 million from $3.2 million.

Mr. Davis's total pay package rose 64% to nearly $17 million, mostly owing to stock awards that increased to $13.7 million from $8.3 million. His salary fell to $830,835 last year from $1.1 million in 2013.

In a statement, UPS said the executive compensation increases reflect a change in the company's long-term incentive performance award program and changes in pension value stemming from lower discount rates and changes in other assumptions.

Write to Tess Stynes at [e-mail]

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