“In 2015, our performance fell below our financial targets, which significantly impacted the compensation paid to our CEO and CFO,” said CHS in a recent Securities and Exchange Commission filing.
Mr. Smith’s base salary is again set at $1.6 million in 2016. His performance-based restricted stock grants will fall 68 percent from a value of $7.3 million in 2015 to $2.3 million in 2016.
There was also no adjustment made to Mr. Cash’s salary for 2016, which will remain at $850,000.
CHS ended the final quarter of 2015 with a loss of $83 million, down from a profit of $100 million a year earlier.
More articles on compensation:
Tenet CEO and CFO compensation slashed in 2015
CEOs: Most Americans think you’re overpaid
Which medical profession is the highest paying job in the US?
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.