Pfizer’s new CFO David Denton to get $1.25 million as annual base salary
2022.04.13 01:16
FILE PHOTO: Pfizer logo seen outside their building in Manhattan, New York City, New York, U.S., March 2, 2021. REUTERS/Carlo Allegri
(Reuters) – Pfizer Inc (NYSE:PFE)’s newly appointed chief financial officer, David Denton, will get $1.25 million as annual base salary, the pharmaceutical giant said in a regulatory filing on Tuesday.
A similar amount will be given to Denton as annual target cash incentive opportunity, although this would be pro-rated for the portion of the year worked, the company said.
Besides these, Denton, who joins Pfizer on May 2, will get a one-time payment of $5 million and restricted stock worth $3.25 million and he will be eligible for credit worth $9.75 million through the company’s supplemental savings plan.
Denton, who on Monday was announced as the successor to company veteran Frank D’Amelio, joins Pfizer from home improvement chain Lowe’s (NYSE:LOW) Cos Inc.
As per his offer letter at Lowe’s when he was appointed in 2018, Denton’s base salary was $925,000, with a bonus opportunity of 125% of his base salary.
