The table below shows the compensation awarded to the named executives for our last three fiscal years. We set compensation for the majority of the named executives in U.S. dollars, and have converted the amounts below to Canadian dollars consistent with our financial statements. Fluctuations in exchange rates can contribute to changes in the compensation amounts reported from year to year.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | Non-equity incentive compensation | | | | | | | | | | |
| | Year | | | Salary | | | Share-based awards | | | Option- based awards | | | Annual incentive | | | Pension value | | | All other compensation | | | Total compensation | |
Roy Gori President and CEO | |
| 2018
2017 2016 |
| |
| $1,423,033
$1,195,187 $982,435 |
| |
| $4,592,515
$3,926,499 $2,475,000 |
| |
| $1,968,221
$2,087,065 $1,650,000 |
| |
| $4,097,602
$3,006,683 $1,700,920 |
| |
| $644,300
$119,100 $49,100 |
| |
| $260,673
$2,421,808 $908,009 |
| |
| $12,986,344
$12,756,342 $7,765,464 |
|
Phil Witherington Chief Financial Officer | |
| 2018
2017 2016 |
| |
| $850,000
$757,030 $577,393 |
| |
| $1,400,000
$413,805 $383,526 |
| |
| $600,000
$177,345 $164,368 |
| |
| $1,492,000
$1,651,918 $526,032 |
| |
| $178,700
$34,500 $28,900 |
| |
| $81,589
$572,757 $202,087 |
| |
| $4,602,289
$3,607,355 $1,882,306 |
|
Warren Thomson Chief Investment Officer | |
| 2018
2017 2016 |
| |
| $1,077,101
$1,066,034 $1,084,178 |
| |
| $1,942,987
$2,018,509 $1,897,500 |
| |
| $832,709
$865,075 $1,265,000 |
| |
| $2,980,870
$2,876,610 $1,570,080 |
| |
| $390,900
$259,100 $276,800 |
| |
| $69,557
$70,657 $68,612 |
| |
| $7,294,124
$7,155,985 $6,162,170 |
|
Marianne Harrison President and CEO, John Hancock | |
| 2018
2017 2016 |
| |
| $923,657
$916,586 $829,534 |
| |
| $2,296,258
$2,385,510 $1,650,000 |
| |
| $984,110
$1,022,362 $1,100,000 |
| |
| $1,456,607
$1,375,770 $981,300 |
| |
| $193,400
$185,000 $209,900 |
| |
| $61,319
$77,469 $58,630 |
| |
| $5,915,351
$5,962,698 $4,829,364 |
|
Anil Wadhwani President and CEO, Manulife Asia | |
| 2018
2017 |
| |
| $834,278
$115,276 |
| |
| $1,589,717
$1,274,400 |
| |
| $681,307
$0 |
| |
| $1,449,974
$1,500,840 |
| |
| $47,400
$0 |
| |
| $508,414
$59,498 |
| |
| $5,111,090
$2,950,014 |
|
Base salary
Set in U.S. dollars, but paid semi-monthly in Canadian dollars using the Bank of Canada noon exchange rate that applied on the previous pay date, with the following exceptions: Mr. Witherington’s 2018 salary was set and paid in Canadian dollars, and his 2017 and 2016 salaries were set and paid in Hong Kong dollars. Ms. Harrison’s salary is set and paid in U.S. dollars. Mr. Wadhwani’s salary is set in U.S. dollars but paid in Hong Kong dollars. For each executive, we used the average quarterly exchange rates outlined in the table below to convert to Canadian dollars.
Mr. Gori’s 2017 salary is a blended amount that reflects his roles during the year: President and CEO, Manulife Asia, from January 1 to June 4, President from June 5 to September 30, and President and CEO from October 1 to December 31. Until June 4, 2017, Mr. Gori’s salary was paid in Hong Kong dollars.
| | | | | | | | | | |
| | Exchange rate for U.S. dollars | | | | | Exchange rate for HK dollars | |
2018 | | US$1.00 = $1.296 | | | | | | HK$ | 1.00 = $0.1654 | |
2017 | | US$1.00 = $1.298 | | | | | | HK$ | 1.00 = $0.1666 | |
2016 | | US$1.00 = $1.325 | | | | | | HK$ | 1.00 = $0.1707 | |
The grant date fair value of performance share units, restricted share units and deferred share units awarded to the named executives, including dividend equivalents, which are credited as additional units using the data in the table to the right. The grant date fair value is the closing price of a Manulife common share on the TSX on the last trading day before the grant date or the average closing price for the last 10 trading days (5 trading days for 2016) before the grant date (whichever is higher).