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How Much North Texas CEOs Earn

With net income at DFW middle-market companies up an average of 31 percent, executives are being rewarded with serious pay hikes.
By Paradox Compensation Advisors |
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It’s always fascinating to analyze the compensation packages of C-level executives in North Texas. Leaders of global corporations that are based in Dallas-Fort Worth attract widespread attention; D CEO focuses its compensation reporting on middle market companies, a powerful local economic force. Here, for the seventh straight year, we examine executive pay at these firms—and how the nature of CEO pay for these companies continues to change. As always, research is performed by Paradox Compensation Advisors, a Dallas-based consulting firm. 


This year, Paradox analyzed data on total compensation (base salary, annual bonuses, and long-term incentives such as stock options and stock awards) for 52 companies with 2014 revenue of $50 million to $1 billion. To qualify, the company’s CEO had to be in place for the full year (or sufficient information provided to project full-year pay). Because compensation is expected to be correlated with performance, research included annual revenue and net income, too.


Last year, we reported that 2013 median net income among midsize companies rose 12 percent and revenue grew by 11 percent. At the same time, the median overall total compensation increase for CEOs was 9 percent, raising median total compensation to $1,809,225. In 2014, midsize companies increased CEO compensation another 15 percent to a median total of about $2.1 million. Marsha Cameron, a senior partner with Paradox, observes that this is not unexpected in a year when net income among midsize companies rose 31 percent and revenue grew by 7 percent.


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These statistics reflect increases in how midsize companies pay their CEOs, regardless of whether incumbents stayed in place. Of the 39 CEOs who remained in the job through both 2013 and 2014, total compensation grew by 21 percent, indicating that companies increased pay more for a sitting CEO than one brought in from the outside or promoted from within. 


Changes in CEO base salary, at 3 percent, don’t vary from pay increases for the average employee. The bulk of the growth in total compensation comes from a continuing rise in the value of long-term incentives, where the value of equity awards and other long-term incentives rose by 20 percent. Annual bonus awards also grew by 12 percent. Increasingly, midsize companies use defined performance criteria to evaluate the CEO’s performance, determine his or her bonus, and, at least in part, determine whether equity awards will vest. “Although total compensation certainly saw a significant hike, it is typically more performance-based than five to 10 years ago,” Cameron says.


As the data on the following pages reveal, total 2014 compensation, top to bottom, ranges from $26.6 million for La Quinta Holding’s Wayne Goldberg to $96,000 for William McManemin at Dorchester Minerals.   




























































































































































































































































































































































































































































































RankCompany NameExecutive NameReported SalaryTotal Cash Incentives (Base+Bonus)Total Long term IncentivesTotal Reported Compensation
1LA QUINTA HOLDINGS INC.Wayne B. Goldberg$675,890$2,227,890$24,360,884$26,588,774
2ASHFORD HOSPITALITY TRUST INC.Montgomery J. Bennett IV$800,000$2,400,000$3,981,934$6,381,934
3HOWARD HUGHES CORP.David R. Weinreb$1,000,000$6,000,000$0$6,000,000
4TUESDAY MORNING CORP.R. Michael Rouleau$535,986$1,327,636$3,874,350$5,201,986
5FELCOR LODGING TRUST INC.Richard A. Smith$764,909$2,089,285$2,906,247$4,995,532
6EAGLE MATERIALS INC.Steven R. Rowley$885,000$1,965,460$3,000,000$4,965,460
7DIODES INC.Keh-Shew Lu$548,000$1,468,000$3,488,000$4,956,000
8WESTWOOD HOLDINGS GROUP INC.Brian O. Casey$600,000$2,594,401$2,057,650$4,652,051
9FIRST CASH FINANCIAL SERVICES INC.Rick L. Wessel$992,000$2,763,917$1,497,000$4,260,917
10CAPITAL SENIOR LIVING CORP.Lawrence A. Cohen$725,232$1,446,453$2,630,000$4,076,453
11RSP PERMIAN INC.Steven Gray$458,750$1,330,750$2,528,669$3,859,419
12COMSTOCK RESOURCES INC.M. Jay Allison$802,000$1,307,260$2,444,401$3,751,661
13GREATBATCH INC.Thomas J. Hook$700,000$1,214,080$2,365,414$3,579,494
14REALPAGE INC.Stephen T. Winn$500,000$500,000$2,986,000$3,486,000
15DAVE & BUSTER’S ENTERTAINMENT INC.Stephen M. King$676,250$1,784,058$1,560,000$3,344,058
16HMS HOLDINGS CORP.William C. Lucia$650,000$1,118,000$2,149,987$3,267,987
17CYRUSONE INC.Gary J. Wojtaszek$615,577$1,632,125$1,500,000$3,132,125
18EXCO RESOURCES INC.Harold L. Hickey$750,000$1,737,225$1,365,629$3,102,854
19NEXSTAR BROADCASTING GROUP INC.Perry A. Sook$1,295,385$2,995,385$0$2,995,385
20TYLER TECHNOLOGIES INC.John S. Marr Jr.$488,000$1,195,600$1,639,414$2,835,014
21MATADOR RESOURCES CO.Joseph WM. Foran$750,000$1,425,000$1,222,159$2,647,159
22US CONCRETE INC.William J. Sandbrook$786,384$1,691,418$664,388$2,355,806
23CAPSTEAD MORTGAGE CORPAndrew F. Jacobs$750,000$1,500,807$821,702$2,322,509
24AZZ INCThomas E. Ferguson$650,000$1,318,720$900,009$2,218,729
25GLOBAL POWER EQUIPMENT GROUP INC.Luis M. Ramírez$577,500$1,060,793$1,134,516$2,195,309
26CLUBCORP HOLDINGS INC.Eric L. Affeldt$650,000$1,208,500$942,214$2,150,714
27TEXAS CAPITAL BANCSHARESC. Keith Cargill$625,000$2,004,291$0$2,004,291
28U S LIME & MINERALS INC.Timothy W. Byrne$400,000$1,070,000$845,450$1,915,450
29GREEN BRICK PARTNERS INC.James R. Brickman$233,333$466,666$1,441,000$1,907,666
30A. H. BELO CORP.James M. Moroney III$600,000$1,373,465$487,495$1,860,960
31FIESTA RESTAURANT GROUP INC.Timothy P. Taft$525,000$1,024,800$750,006$1,774,806
32ATRION CORP.David A. Battat$600,000$1,500,000$220,668$1,720,668
33ADEPTUS HEALTH INC.Thomas S. Hall$587,884$1,637,884$0$1,637,884
34NL INDUSTRIES INC.Robert D. Graham$1,461,450$1,461,450$12,810$1,474,260
35INDEPENDENT BANK GROUP INC.David R. Brooks$650,000$985,000$300,025$1,285,025
36ZOE’S KITCHENKevin Miles$362,099$589,061$644,800$1,233,861
37SPEED COMMERCERichard S Willis$450,000$450,000$610,620$1,060,620
38TRIUMPH BANCORP INC.Aaron P. Graft$385,000$546,700$485,407$1,032,107
39HALLMARK FINANCIAL SERVICES INC.Naveen Anand$494,385$597,385$415,001$1,012,386
40COMPX INTERNATIONAL INC.David A. Bowers$473,866$973,866$0$973,866
41LEGACYTEXAS FINANCIAL GROUP INC.Kevin J. Hanigan$549,450$931,867$0$931,867
42AFFIRMATIVE INSURANCE HOLDINGS INC.Michael J. McClure$650,000$650,000$224,737$874,737
43PMFG INC.Peter J. Burlage$425,000$425,000$425,002$850,002
44WILHELMINA INTERNATIONAL INC.Alex Vaickus$500,000$500,000$257,917$757,917
45MANNATECH INC.Robert A. Sinnott Ph.D$383,077$690,577$61,037$751,614
46CAMBIUM LEARNING GROUPJohn Campbell$368,173$502,048$128,541$630,589
47TANDY LEATHER FACTORY INC.Jon W. Thompson$225,000$420,000$84,000$504,000
48USMD HOLDINGS INC.John M. House M.D.$465,223$465,223$7,077$472,300
49DGSE COMPANIES INC.James D. Clem$325,000$325,000$99,688$424,688
50PFSWEB INC.Michael C. Willoughby$401,607$401,607$0$401,607
51DEL FRISCOS RESTAURANT GROUP INC.Mark S. Mednansky$400,000$400,000$0$400,000
52DORCHESTER MINERALS LPWilliam Casey McManemin$96,000$96,000$0$96,000

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