A lower bonus was the reason John P. Barnes, president and CEO of Bridgeport lender People’s United Financial, earned approximately $173,000 less in total compensation last year, the company disclosed in a U.S. & Securities Exchange Commission filing.
Barnes’ salary, options, bonuses and other compensation totaled $3.7 million, down from $3.9 million in 2013.
Barnes’ $1 million bonus was down from $1.3 million in 2013. Increases in option awards and salary made up some of that difference.
The compensation figures do not account for any options cashed in during 2014; only the estimated value of those awarded during the year.
People’s United booked $251.7 million in 2014 profits, up from $232.4 million the year before.
The company’s stock price ended the year at $5.18, up from an ending from of $5.12.