Waterbury lender Webster Financial Corp. paid its CEO James Smith 6 percent more in total compensation last year than it did in 2013, according to a U.S. Securities & Exchange Commission filing.
Smith’s compensation totaled $5.2 million, up from $4.9 million the year before. The total includes salary, estimated value of stock awards and options granted during the year, performance incentive payments, change in pension value, and other compensation.
The numbers do not include previously granted stock awards that vested in 2014. More than 45,000 of Smith’s shares vested last year, valued at $1.4 million.
Webster booked $189 million in net income for 2014, an increase of 12 percent over 2013.