Neil Keating, CEO, chairman and president of Bloomfield’s Kaman Corp., saw the total value of his compensation fall by nearly one-quarter last year, the manufacturer-distributor disclosed Friday in a U.S. Securities & Exchange Commission filing.
Keating’s total compensation was valued at $3.58 million in 2014, down from $4.68 million in 2013.
Total compensation includes base salary, restricted stock and options awards, cash bonuses, pension value and “other” compensation, such as vehicle allowance, 401(k) matching contributions, and personal use of corporate aircraft.
It does not include stock or options cashed in during 2014.
Keating’s estimated cash bonus, which is based on Kaman’s stock performance relative to the market, fell from $3.5 million in 2013 to $1.3 million last year.
But Kaman said that number could change when the company calculates its actual bonuses in June.
