TABLE OF CONTENTS
EXECUTIVE COMPENSATION TABLES AND NARRATIVES
Summary Compensation Table
The following table presents the cash and other compensation for our NEOs for
2020, 2019
2018 and
2017.2018.
Summary Compensation Table
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Name and Principal Position | | Year | | | Salary(1) | | | Bonus(2) | | | Stock Awards(3) | | | Option Awards(4) | | | Non-Equity Incentive Plan Compensation | | | Change in Pension Value(5) | | | All Other Compensation(6) | | | Total | |
Rodney O. Martin, Jr., Chairman and CEO | | | 2019 | | | $ | 1,000,000 | | | $ | — | | | $ | 8,141,671 | | | $ | — | | | $ | 3,140,000 | | | $ | 41,986 | | | $ | 230,634 | | | $ | 12,554,291 | |
| | | 2018 | | | $ | 1,000,000 | | | $ | — | | | $ | 7,072,591 | | | $ | — | | | $ | 3,140,000 | | | $ | 39,581 | | | $ | 85,739 | | | $ | 11,337,911 | |
| | | 2017 | | | $ | 1,000,000 | | | $ | — | | | $ | 6,614,961 | | | $ | — | | | $ | 3,250,000 | | | $ | 37,906 | | | $ | 86,205 | | | $ | 10,989,072 | |
Michael S. Smith, EVP & CFO | | | 2019 | | | $ | 637,500 | | | $ | — | | | $ | 1,905,932 | | | $ | 980,778 | | | $ | 1,512,000 | | | $ | 55,012 | | | $ | 68,770 | | | $ | 5,159,992 | |
| | | 2018 | | | $ | 625,000 | | | $ | — | | | $ | 2,239,635 | | | $ | — | | | $ | 1,375,000 | | | $ | 25,523 | | | $ | 67,360 | | | $ | 4,332,518 | |
| | | 2017 | | | $ | 625,000 | | | $ | — | | | $ | 1,870,282 | | | $ | — | | | $ | 1,575,000 | | | $ | 47,517 | | | $ | 66,025 | | | $ | 4,183,824 | |
Christine Hurtsellers, CEO Investment Management | | | 2019 | | | $ | 600,000 | | | $ | — | | | $ | 2,299,546 | | | $ | 980,778 | | | $ | 2,138,400 | | | $ | 331,801 | | | $ | 68,770 | | | $ | 6,419,295 | |
| | | 2018 | | | $ | 600,000 | | | $ | — | | | $ | 2,357,513 | | | $ | — | | | $ | 2,625,000 | | | $ | — | | | $ | 67,360 | | | $ | 5,649,873 | |
| | | 2017 | | | $ | 600,000 | | | $ | — | | | $ | 1,574,978 | | | $ | — | | | $ | 2,898,000 | | | $ | 225,956 | | | $ | 66,334 | | | $ | 5,365,268 | |
Charles P. Nelson, CEO Retirement and Employee Benefits | | | 2019 | | | $ | 725,000 | | | $ | — | | | $ | 1,864,472 | | | $ | 980,778 | | | $ | 1,300,860 | | | $ | 42,626 | | | $ | 87,660 | | | $ | 5,001,396 | |
| | | 2018 | | | $ | 700,000 | | | $ | 233,334 | | | $ | 2,292,021 | | | $ | — | | | $ | 1,375,000 | | | $ | 30,413 | | | $ | 73,591 | | | $ | 4,704,359 | |
| | | 2017 | | | $ | 700,000 | | | $ | 233,333 | | | $ | 2,150,422 | | | $ | — | | | $ | 1,470,000 | | | $ | 35,790 | | | $ | 105,641 | | | $ | 4,695,186 | |
Margaret M. Parent, EVP & CAO | | | 2019 | | | $ | 616,667 | | | $ | — | | | $ | 978,790 | | | $ | 980,778 | | | $ | 1,406,160 | | | $ | 39,049 | | | $ | 50,400 | | | $ | 4,071,843 | |
Rodney O. Martin, Jr.,
Chairman and CEO | | | 2020 | | | $1,200,000 | | | $— | | | $9,106,533 | | | $— | | | $3,000,000 | | | $40,936 | | | $249,539 | | | $13,597,008 |
| | | 2019 | | | $1,000,000 | | | $— | | | $8,141,671 | | | $— | �� | | $3,140,000 | | | $41,986 | | | $230,634 | | | $12,554,291 |
| | | 2018 | | | $1,000,000 | | | $— | | | $7,072,591 | | | $— | | | $3,140,000 | | | $39,581 | | | $85,739 | | | $11,337,911 |
Michael S. Smith,
Vice Chairman and Chief Financial Officer | | | 2020 | | | $640,000 | | | $— | | | $2,877,880 | | | $— | | | $1,290,240 | | | $57,605 | | | $69,692 | | | $4,935,417 |
| | | 2019 | | | $637,500 | | | $— | | | $1,905,932 | | | $980,778 | | | $1,512,000 | | | $55,012 | | | $68,770 | | | $5,159,992 |
| | | 2018 | | | $625,000 | | | $— | | | $2,239,635 | | | $— | | | $1,375,000 | | | $25,523 | | | $67,360 | | | $4,332,518 |
Christine Hurtsellers, CEO Investment Management | | | 2020 | | | $600,000 | | | $— | | | $2,590,085 | | | $— | | | $1,900,800 | | | $264,925 | | | $58,592 | | | $5,414,402 |
| | | 2019 | | | $600,000 | | | $— | | | $2,299,546 | | | $980,778 | | | $2,138,400 | | | $331,801 | | | $68,770 | | | $6,419,295 |
| | | 2018 | | | $600,000 | | | $— | | | $2,357,513 | | | $— | | | $2,625,000 | | | $— | | | $67,360 | | | $5,649,873 |
Charles P. Nelson,
Vice Chairman
Chief Growth Officer | | | 2020 | | | $730,000 | | | $— | | | $2,701,108 | | | $— | | | $1,156,320 | | | $44,688 | | | $70,388 | | | $4,702,504 |
| | | 2019 | | | $725,000 | | | $— | | | $1,864,472 | | | $980,778 | | | $1,300,860 | | | $42,626 | | | $87,660 | | | $5,001,396 |
| | | 2018 | | | $700,000 | | | $233,334 | | | $2,292,021 | | | $— | | | $1,375,000 | | | $30,413 | | | $73,591 | | | $4,704,359 |
Margaret M. Parent,
Former EVP & CAO | | | 2020(3) | | | $620,000 | | | $— | | | $1,414,613 | | | $— | | | $1,145,760 | | | $42,170 | | | $51,300 | | | $3,273,843 |
| | | 2019 | | | $616,667 | | | $— | | | $978,790 | | | $980,778 | | | $1,406,160 | | | $39,049 | | | $50,400 | | | $4,071,843 |
(1)
| Amounts in this column represent salary that was actually paid to each NEO during the listed calendar year. Mr. Smith’sMartin's 2020 salary is based on his annual base salary from January 1, 2020 to December 31, 2020. Mr. Smith's 2019 salary is based on his annualized base salary of $625,000 from January 1, 2019 to February 28, 2019 and an annualized base salary of $640,000 from March 1, 2019 to December 31, 2019. Mr. Nelson’sNelson's 2019 salary is based on his annualized base salary of $700,000 from January 1, 2019 through February 28, 2019 and an annualized base salary of $730,000 from March 1, 2019 through December 31, 2019. Ms. Parent’sParent's 2018 salary is based on her annualized base salary of $575,000 from January 1, 2018 through February 28, 2018 and an annualized base salary of $600,000 from March 1, 2018 through December 31, 2018. Ms. Parent’sParent's 2019 salary is based on her annualized base salary of $600,000 from January 1, 2019 through February 28, 2019 and an annualized base salary of $620,000 from March 1, 2019 through December 31, 2019. |
(2)
| The amount in this column for Mr. Nelson in 2017 and 2018 each reflectreflects 1/3 of a $700,000 deferred cash award in connection with his offer of employment. |
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(3)
| Ms. Parent left Voya effective as of January 31, 2021. |
(4)
| Amounts in this column include the grant date fair value calculated in accordance with FASB ASC Topic 718 for 2017, 2018, 2019 and 20192020 time-based and performance-based awards (at target) granted to the NEOs, in eachthe case of 2018 & 2019 under the 2014 Omnibus Plan and 2020 awards under the 2019 Omnibus Plan, and in each case in respect of prior year performance. Maximum payout (150% of target) for PSUs would result in the following grant date fair values: |
| | | | | | | | | | | | |
NEO | | 2019 PSUs | | | 2018 PSUs | | | 2017 PSUs | |
Mr. Martin | | $ | 6,907,051 | | | $ | 6,052,691 | | | $ | 5,457,303 | |
Mr. Smith | | $ | 1,616,903 | | | $ | 1,916,677 | | | $ | 1,542,997 | |
Ms. Hurtsellers | | $ | 1,950,821 | | | $ | 2,017,564 | | | $ | 1,299,366 | |
Mr. Nelson | | $ | 1,581,730 | | | $ | 1,961,533 | | | $ | 1,926,276 | |
Ms. Parent | | $ | 830,377 | | | $ | — | | | $ | — | |
Mr. Martin | | | $7,679,362 | | | $6,907,051 | | | $6,052,691 |
Mr. Smith | | | $2,426,830 | | | $1,616,903 | | | $1,916,677 |
Ms. Hurtsellers | | | $2,184,153 | | | $1,950,821 | | | $2,017,564 |
Mr. Nelson | | | $2,277,809 | | | $1,581,730 | | | $1,961,533 |
Ms. Parent | | | $1,192,908 | | | $830,377 | | | — |
For a discussion of the valuation methodology for the PSUs, see Footnote 1 to the financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
(5)
| For Mr. Nelson, 2017 stock awards also include a PSU award granted in February 2017 in connection with his offer of employment. For a discussion of the valuation methodology for the PSUs, see Footnote 1 to the financial statements in the Company’s Annual Report on Form10-K for the year ended December 31, 2019.
|
(4) | Amounts in this column represent stock options granted in 2019 subject to performance conditions and a waiting period before such options are exercisable. As of December 31, 2019,2020, the performance conditions with respect toone-half such options have been satisfied. On half of such options had been satisfied, which options arevested and became exercisable as of April 22, 2020. The remaining half of such options vested as of July 31, 2020 and will become exercisable as of July 31, 2021. |
(5)(6)
| Amounts in this column represent the net changes in actuarial present value under the Retirement Plan and the SERP. |
(6)(7)
| All amounts in this column for 20192020 are described in more detail in the table below entitled “—All Other Compensation Table for 2019”2020”. |