Compensation Issues

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Compensation for Vanguard CEO Charles Martin Jr. Doubles to $7.9M in 2012

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As Vanguard Health Systems prepares to announce financial results for the first quarter of its 2013 fiscal year, the Nashville, Tenn.-based for-profit hospital operator also released executive compensation figures, showing that CEO and board chairman Charles Martin Jr. earned $7.94 million in 2012, according to Vanguard's latest filing with the U.S. Securities and Exchange Commission.

That total is more than double Mr. Martin's compensation total from 2011, which equaled $3.7 million.

Mr. Martin's base salary for FY 2012 was $1.21 million. A major reason for the boost in compensation came from more than $3.8 million in stock awards and $840,006 in stock option awards. Mr. Martin also received roughly $2.08 million in incentives as Vanguard exceeded target goals in adjusted EBITDA, free cash flow and earnings per share.

Kent Wallace, president and COO, and Bradley Perkins, MD, chief transformation officer, had the next-highest compensation totals at $2.75 million and $2.57 million, respectively.

Vanguard CFO Phillip Roe earned $2.36 million, a 42 percent increase from FY 2012. Mr. Roe earned a base salary of $618,750 and recorded stock awards and option awards of $841,651. His incentives equaled almost $901,000.

Vanguard's stockholders still must submit a nonbinding vote on the executive compensation figures due to the Dodd-Frank financial reform law, although the totals will most likely stand regardless of the voting outcome.

More Articles on Hospital Executive Compensation:

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