Sundar PichaiSundar Pichai earned $164M in 2023

R. Lane Riggs is the CEO and President of Valero Energy Corporation, stepping into the role in 2023 after serving as the President and Chief Operating Officer. He has a solid track record of working on major projects, especially in...

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R. Lane Riggs

CEO of Valero Energy

Education

Not specified

Field of Expertise

Business & Management

Sector of Economy

Energy

Born

January 1, 1975 - 50 years ago

CEO of Valero Energy for

1 year 10 months (Jun 2023 - Present)

Previous Experience

President and Chief Operating Officer of Valero

Holdings

See how much did R. Lane Riggs make over time.

R. Lane Riggs's holdings in Valero Energy reflect his strong belief in the company’s future. Recently, reports indicate significant fluctuations in his stock value as the company pivots towards more sustainable practices. In 2023, Riggs was granted restricted stock worth...

Total Stock Sold

$5.21M

VLO

$5.21M

62,960 VLO shares

What if they kept their stock?

If R. Lane Riggs didn't sell their stock, today they would have:
Extra VLO62,960 shares worth $3.86M.
This is -25.97% and $1.35M less than what they got when they sold the stock.

Charitable Transactions

VLO

12,001 shares

VLO

Recent Charitable Transactions

VLO

2,585 shares

VLO

Jan 31, 2023

Charity

VLO

2,960 shares

VLO

May 6, 2021

Charity

VLO

2,000 shares

VLO

Sep 28, 2018

Charity

VLO

1,200 shares

VLO

May 1, 2017

Charity

VLO

1,400 shares

VLO

Dec 22, 2015

Charity

VLO

1,856 shares

VLO

Feb 24, 2015

Charity

Insider Trading

See recent insider trades of R. Lane Riggs.

VLO

41,290 shares

VLO

Feb 22, 2024

Received

VLO

8,953 shares

VLO

Jul 1, 2023

Received

VLO

22,030 shares

VLO

Feb 23, 2023

Received

VLO

2,585 shares

VLO

Jan 31, 2023

Charity

VLO

$2.34M

VLO at $131.53/share

May 27, 2022

Sale

VLO

27,460 shares

VLO

Feb 22, 2022

Received

VLO

2,960 shares

VLO

May 6, 2021

Charity

VLO

60,630 shares

VLO

Feb 23, 2021

Received

VLO

52,954 shares

VLO

Feb 26, 2020

Received

VLO

10,548 shares

VLO

Dec 18, 2019

Received

Compensation History

See how much did R. Lane Riggs make over time.

In 2023, R. Lane Riggs received a total compensation package of $1,840,400, which includes a base salary of $1,425,000 and a bonus. His bonus is tied directly to performance metrics, reaching a target of 193.62% for the year, indicating that the company met or exceeded many of its financial and operational goals. This aligns with Valero's compensation philosophy, which emphasizes linking executive pay to company performance. Additionally, Riggs will receive restricted stock grants valued at over $2 million, vesting over three years, indicating that part of his compensation is tied to the long-term success of the company, making him invested in Valero's future success. Overall, his pay structure not only rewards him for immediate performance but also aligns his interests with the sustainable growth of Valero.

Year

2023

Total Compensation

$4.96M

Salary

$1.43M

Board Justification

Valero's compensation philosophy aims to tightly link company performance and executive pay, balancing short- and long-term incentives to align the interests of executives and stockholders, while facilitating retention of top executive talent.

Bonus

$3.35M

Board Justification

The annual incentive bonus is based on the achievement of financial, operational, and strategic objectives, with a performance score of 193.62% for 2023.

Other

$179.80K

Board Justification

Other compensation includes contributions to retirement plans and various benefits such as home security and medical concierge services.

Restricted Stock

$0.00(0 Performance Shares)

Board Justification

No stock was vested in 2023; however, performance shares are scheduled to vest in future years based on performance metrics.

Performance Metrics

Performance metrics include adjusted EPS, health and safety performance, mechanical availability, and strategic execution goals.

Other Valero Energy CEOs

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