Mark E. Lashier is the CEO of Phillips 66, a big player in the energy sector. He stepped into the CEO role in April 2021 after serving as President and COO. Before that, Lashier was the President and CEO of...

Current Market Cap

$55.73B

Number of Employees

14K

Total Compensation

2021 - 2023

Trending up by 174.68% last year
Showing total compensation for the last 2021 - 2023

Stock

Up by 431.69% last year

Salary

Up by 20.44% last year

Bonus

Up by 42.27% last year

Other

Up by 12.92% last year

Year

2023

Total Compensation

$20.58M

Salary

$1.58M

Board Justification

The compensation philosophy of Phillips 66 is to align executive compensation with Company performance and shareholder value creation. The compensation program is designed to attract, retain, and motivate executives by providing competitive total compensation aligned with market practice and emphasizing performance-based pay.

Bonus

$4.04M

Board Justification

The bonus for 2023 was determined based on the Company's performance against established metrics under the Variable Cash Incentive Program (VCIP). The payout was 161% of the target due to strong operational and financial performance, particularly in Safety & Operating Excellence and Adjusted VCIP EBITDA.

Other

$755.06K

Board Justification

Other compensation includes Company contributions to nonqualified defined contribution plans, executive group life insurance premiums, executive health physical, financial counseling, matching contributions under the tax-qualified savings plan, matching gift programs, miscellaneous perquisites, and personal use of company aircraft.

Restricted Stock

$14.20M(110.48K RSU)

Board Justification

The vested stock includes RSUs and PSP awards that vested during the year. The 2021-2023 PSP award vested on December 31, 2023, and was paid out in cash in early 2024.

Performance Metrics

The performance metrics for determining CEO compensation in 2023 included Adjusted VCIP EBITDA, Adjusted VCIP Controllable Costs, Safety & Operating Excellence, and High-Performing Organization metrics.

SEC Filing

From April 3, 2024