A federal filing from Constellation Brands Inc. shows that its chief executive and president saw his pay package rise 25 percent as the alcoholic drinks company’s became more profitable but lost its status as the world’s biggest wine maker.
CEO Robert Sands’ total compensation was worth $8.43 million in the fiscal year that ended Feb. 28, compared with $6.77 million the previous year.
Most of Sands’ pay hike came with the doubling of his performance-based cash bonus to $2.62 million and a 5 percent increase in his stock and option awards to $4.4 million when they were granted.
Sands’ base salary rose 2.5 percent to $1.13 million from $1.1 million.
The AP’s calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.