These are Tampa Bay’s 20 highest paid CEOs

It’s been more than three years since the Tampa Bay Times last surveyed the salaries of CEOs in our region. A lot has changed since then.

Some publicly traded companies have been bought and sold, others have launched initial public offerings or gone private, others have grown tremendously despite the COVID-19 pandemic and inflationary and supply chain pressures.

What hasn’t changed that much: The men — and they are all men — who received the highest paychecks still racked up. Even those who put bonuses or raises on hold during the pandemic are now regularly receiving nine-figure stock awards and bonuses. The combined base salary of the region’s top 20 executives is $17.8 million; add in all the other compensation, and that figure balloons to $152.3 million.

To add up CEO earnings, we looked at the past year’s worth of U.S. Securities and Stock Exchange filings for public companies based in Tampa Bay. Unless otherwise noted, most of the figures listed are from 2021 — most official 2022 numbers won’t be available until spring.

Here’s a look at the top 20.

1. L. Neil Hunn, Roper Technologies

Age: 50

Pay: $21,557,738

Base salary: $1 million

Stock awards: $12,946,468

Option awards: $4,425,029

Bonus incentives: $3 million

Other compensation: $186,241, including deferred compensation contributions, medical services, a company car ($24,000) and club memberships ($10,600).

Median employee salary: $98,550

Pay ratio: 219 to 1

Hunn has led the Sarasota company, which manufactures diversified software and technology, since his predecessor’s death in 2018. Already Tampa Bay’s only $20 million CEO, he could be eligible for a major bonus in two years. If Roper’s adjusted earnings before interest, taxes, depreciation and amortization (or EBITDA) hits certain targets for the five-year period ending Dec. 31, 2023, Hunn would receive a bonus of between $6.512 million and $18.6 million. Matching last year’s EBITDA this year and next would get him there.

2. Mark Mondello, Jabil

Age: 58

Pay: $16,435,268

Base salary (2022): $1,255,000

Stock awards: $11,110,207

Bonus incentives: $3,746,539

Other compensation: $329,676, including accrued stock dividends, 401(k) contributions and a physical.

Median employee salary: $8,131

Pay ratio: 2,021 to 1

This’ll be the last year Mondello appears on this list. In November, Jabil, which manufactures technology components for an array of products, announced Mondello will step aside as CEO in May, remaining with the St. Petersburg company as executive chairman. Replacing him is Kenny Wilson, an executive vice president, whose 2022 salary was $5,591,042. A note on that eye-popping CEO pay divide: Jabil says more than 90% of the 146,000 employees considered for the federally mandated ratio report work outside the United States, where “compensation elements and pay levels ... differ from country to country based on market trends as well as fluctuations in currency exchange rates.” The company says its wages in those countries are “competitive with local market practices.”

3. Paul Reilly, Raymond James Financial

Age: 68

Pay: $13,901,046

Base salary: $500,000

Stock awards: $5,930,786

Bonus incentives: $7,100,062 cash bonus and

Other compensation: $370,198, including dividends, deferred compensation, 401(k) contributions and $17,827 for charted flights and spouse meals during travel.

Median employee salary: $106,782

Pay ratio: 130 to 1

St. Petersburg wealth management firm Raymond James started 2021 with $1 trillion in assets under management, and ended it with record revenues. The board rewarded Reilly with a $14.2 million bonus, including $7.1 million in cash and the rest in stock awards. At least $2 million of that doesn’t appear on this year’s ledger as it won’t be awarded until after the current fiscal year.

4. James “Joc” O’Rourke, Mosaic Co.

Age: 62

Pay: $12,297,011

Base salary: $1,238,750

Stock awards: $7,919,369

Bonus incentives: 2,708,899

Other compensation: $357,526, including 401(k) contributions, life and disability premiums, dividend equivalents, financial and tax planning, tax reimbursements on airplane usage, spousal travel and a physical.

Median employee salary: $24,013

Pay ratio: 512 to 1

In 2018, the phosphate and potash mining giant moved from Minnesota to Tampa, it reported annual revenues of $9.6 billion. Last year, sales hit $12.4 billion. Through September of this year, Mosaic was already at $14.6 million. O’Rourke is also a board member at lawn and landscape maintenance company the Toro Co., where last year he received $232,071 in fees and stock and option awards. Toro in 2021 reported net sales of just under $4 billion.

5. Rich Hume, TD Synnex

Age: 63

Pay: $9,529,362

Base salary: $735,457

Stock awards: $1,539,935

Option awards: $2,099,965

Bonus incentives: $2,496,000

Other compensation: $3,135,000 in legacy Tech Data benefits, including $3,115,000 cash and $200,000 in benefits.

Median employee salary: $56,410

Pay ratio: 181 to 1

The above numbers represent Hume’s actual 2021 earnings. But because TD Synnex formed mid-year from a merger between Largo technology distributor Tech Data and California company Synnex, his pay when annualized was a bit higher at $10,230,900. During the merger, Hume was issued more than 260,000 shares of stock that at the time was worth nearly $30 million. Hume also earned $280,134 for serving on the board of directors of Allstate.

6. Paresh Patel, HCI Group

Age: 60

Pay: $7,736,699

Base salary: $734,616

Stock awards: $1,323,468

Option awards: $5,550,000

Other compensation: $128,615, including $120,000 in dividends and the rest to a 401(k)

Median employee salary: $66,586

Pay ratio: 116 to 1

The Tampa property and casualty insurer had an up-and-down year, with its stock spiking at $134.01 in October 2021 and falling by $100 per share since. While HCI’s board declined to give Patel a bonus in 2021, he did receive 20,000 stock shares, valued at $652,400 at the time. Patel also received 1,480,935 shares and 5,000,000 options, all unvested, in HCI subsidiary TypTap Insurance Group.

7. Stu Sjouwerman, KnowBe4

Age: 66

Pay: $7,530,436

Base salary: $501,219

Stock awards: $6,000,414

Bonus incentives: $1 million

Other compensation: $13,113 for car payments

Median employee salary: Exempt from reporting until 2023

Clearwater cybersecurity training company KnowBe4 made history this fall when, just a year and a half after launching an initial public offering, it reached a deal to be sold to a private equity firm for $4.6 billion. Founder Stu Sjouwerman stands to receive a golden parachute valued at $14,194,901 in cash and equity. When the sale is completed in 2023, his shares in the company, including those owned with wife Rebecca Weiss Sjouwerman, would be worth $124,827,361.

8. David Deno, Bloomin’ Brands

Age: 65

Pay: $7,518,278

Base salary: $900,000

Stock awards: $4,600,046

Bonus incentives: $2,011,500

Other compensation: $6,732 in life insurance

Median employee salary: $16,334 (part-time)

Pay ratio: 460 to 1

The parent company of Outback Steakhouse, Bonefish Grill, Carrabba’s and Fleming’s Prime Steakhouse and Wine Bar gave Deno a one-time performance-based stock bonus valued at $1 million that could be worth even more by the time it vests in 2024. Deno also earned $177,049 as a director on the board of Krispy Kreme.

9. Joseph Libreratore, Kforce

Age: 59

Pay: $6,772,469

Base salary: $660,000

Stock awards: $4,649,950

Bonus incentives: $1,306,800

Other compensation: $155,719 in dividends

Median employee salary: $41,608

Pay ratio: 162 to 1

Liberatore’s earnings are from 2021, when he served as the Tampa staffing services company’s president — he didn’t become CEO until Jan. 1. But he still made about $440,000 more than his predecessor, David Dunkel. He’s already gotten a base salary raise to $850,000, and he was due to receive $4.8 million in 2022 as a result of Kforce ending a supplemental executive retirement plan. Dunkel, who stayed on as chairperson, was due to receive $15.2 million.

10. Michael Benstock, Superior Group of Companies

Age: 67

Pay: $5,874,538

Base salary: $615,482

Stock awards: $335,754

Bonus incentives: $1,746,601

Other compensation: $3,223,083, including 3,128,555 in pension value and deferred compensation earnings; 401(k) contributions; life and supplemental health insurance premiums; cash dividend payments; payment for auto use; and use of a private airplane.

Median employee salary: $9,391

Pay ratio: 626 to 1

Benstock is the great-grandson of the founder of Superior Group of Companies, a branding and uniform manufacturing company based in Seminole. He’s been working for the company for 43 years. The CEO-to-median-employee pay ratio for U.S. employees is 626 to 1, but more than 84 percent of Superior Group’s workforce is overseas. Counting only American workers, the average employee salary is $40,223, and the ratio is 146 to 1.

11. Thomas Harrington, Primo Water

Age: 65

Pay: $5,332,744

Base salary: $927,000

Stock awards: $3.5 million

Bonus incentives: $887,139

Other compensation: $25,874, including 401(k) contributions, an annual medical exam and a car allowance.

Median employee salary: $45,852

Pay ratio: 116 to 1

Tampa water dispenser and bottling company Primo Water, formerly Cott Beverages, reported $2.1 billion in revenues in 2021, but a net loss of $3.2 million. Harrington was due for a base salary raise to $975,000 this past April, as the company was moving into its new headquarters in Midtown Tampa.

12. Josef Matosevic, Helios Technologies

Age: 51

Pay: $5,331,976

Base salary: $786,000

Stock awards: $1,909,543

Option awards: $225,483

Bonus incentives: $2,385,450, including an $813,450 bonus

Other compensation: $25,500, including a $16,800 car allowance and 401(k) contributions

Median employee salary: $47,502

Pay ratio: 112 to 1

The Sarasota industrial valve company saw net sales of $869.2 million and net income of $104.6 million in 2021, both significant increases from the year before. Sales are up in 2022, but inflation and foreign factors have dented income. Helios approved a base salary raise for Matosevic to $900,000 in 2022.

13. John Corbett, SouthState Bank

Age: 54

Pay: $5,311,551

Base salary: $975,000

Stock awards: $2,931,598

Bonus incentives: $1,365,653

Other compensation: $39,300, including 401(k) contributions; life, health and disability insurance premiums; and a car allowance of $9,000.

Median employee salary: $63,482

Pay ratio: 85 to 1

Following its 2020 merger with CenterState Bank, Winter Haven-based SouthState became the largest banking institution in Florida, with more than $45 billion in assets. Corbett joined the merged company from CenterState, where pay as CEO in 2019 was $3,934,836.

14. Michael Seton, Sila Realty Trust

Age: 50

Pay: $4,894,488

Base salary: $800,000

Stock awards: $1.8 million

Bonus incentives: $1,539,000

Other compensation: $755,488, including $738,088 in stock dividends and the rest in 401(k) contributions

Median employee salary: $90,616

Pay ratio: 54 to 1

Based in Tampa, the public, non-traded real estate investment trust specializes in health care properties; its recent acquisitions include the 80-bed TGH Rehabilitation Hospital in Tampa. The firm had just 63 employees at the end of 2021, hence the high median salary and second lowest CEO-to-median employee ratio on this list.

15. Howard Heckes, Masonite

Age: 57

Pay: $4,893,869

Base salary: $890,000

Stock awards: $2,924,912

Option awards: $324,993

Bonus incentives: $735,852, including a $240,300 bonus

Other compensation: $18,112, including life insurance and 401(k) contributions

Median employee salary: $44,784

Pay ratio: 109 to 1

The Ybor City-based door manufacturer has seen both revenues and net income increase year-over-year in 2022, and this fall announced the pending $375 million acquisition of door frame components maker Endura Products. Heckes also made 304,884 in fees and stock for serving on the board of the AZEK Co.

16. Brett McGill, MarineMax

Age: 54

Pay: $3,971,985

Base salary: $740,000

Stock awards: $1,442,985

Bonus incentives: $1,776,000

Other compensation: $13,000, representing an employer 401(k) match

Median employee salary: $49,138

Pay ratio: 81 to 1

Few local companies the last few years have grown like boat retailer MarineMax, which amid a series of acquisitions has seen annual revenues nearly double to $2.3 billion since McGill replaced his father as CEO in 2018. McGill’s pay has nearly tripled in that time, and he may be in for a raise very soon — the Clearwater company typically outlines each year’s executive pay at the end of December.

17. Jeff Jackson, PGT Innovations

Age: 56

Pay: $3,547,030

Base salary: $799,471

Stock awards: $2,084,239

Bonus incentives: $626,785

Other compensation: $36,535, including 401(k) contributions, health insurance benefits, life insurance premiums and $11,796 in membership dues at the Sarasota Yacht Club.

Median employee salary: $50,806

Pay ratio: 70 to 1

The North Venice maker of storm doors and windows saw a surge in demand for its products in 2017. This fall, Hurricane Ian made landfall near its headquarters, resulting in facility closures and $1.8 million in disruption and recovery costs, as well as as estimated $12 million in deferred sales. The company anticipates any rise in demand post-Ian to be offset by a potential economic slowdown in 2023.

18. Trevor Baldwin, BRP Group

Age: 36

Pay: $3,445,981

Base salary: $400,000

Stock awards: $1,344,981

Bonus incentives: $1,701,000

Median employee salary: Exempt from reporting until 2023

At 36, Trevor Baldwin, the son of co-founder and board chairperson Lowry Baldwin, is the youngest CEO on this list. The Tampa insurer has spent $2.5 billion on acquisitions between 2020 and September 2022, but it doesn’t call them acquisitions — it calls them “partnerships.” In all, BLP has 1.2 million clients, 3,800 employees — some of whom are described in company filings as “insurance geeks” — and 125 offices in 23 states.

19. Todd Jones, Publix

Age: 60

Pay: $3,433,824

Base salary: $2,350,105

Bonus incentives: $874,248

Other compensation: $209,471, including contributions to deferred compensation and 401(k) plans.

Median employee salary: $24,099

Pay ratio: 142 to 1

Publix stock is not available to the public, only to Publix employees. The Lakeland-based grocery enacted a 5-to-1 stock split in April, but its stock price fell this fall after quarterly earnings fell from summer, even as sales remained high. The median Publix employee salary includes part-time and seasonal workers. When their wages are annualized out to full-time, the median salary is $45,890, for a pay ratio of 75 to 1 compared to Jones.

20. Ernie Garatiex, Heritage Insurance

Age: 51

Pay: $3,014,296

Base salary: $1 million

Stock awards: $1.25 million

Bonus incentives: $740,000

Other compensation: $24,296, including disability and life insurance premiums, 401(k) contributions and a car allowance

Median employee salary: $76,677

Pay ratio: 39 to 1

In 2015, following a lucrative deal with state-run Citizens Property Insurance, Heritage’s then-CEO Bruce Lucas received a compensation package worth $27.3 million, including $16 million in stock awards. Garateix, who was Heritage’s chief operating officer at the time, received $3,127,396 — more than in his first full year as CEO.