Move over, Elon Musk and Tim Cook. There is a new name breaking into the list of the highest-paid chief executives: Chad Richison, the founder and CEO of payroll processor Paycom Software Inc.
The Oklahoma City billionaire last year was awarded compensation valued at $211 million by Paycom, the company disclosed in the annual proxy statement it filed with the Securities and Exchange Commission last week.
At the pay package’s core: an award of restricted shares that could wind up adding more than $2 billion to Mr. Richison’s fortune over the next decade.
Paycom said the value of the award is based on share performance and Mr. Richison will receive none of the award unless the company’s share price more than doubles.
Mr. Richison’s 2020 compensation was worth closer…
