AP Tobacco Writer
RICHMOND, Va. (AP) -- Marlboro maker Altria Group Inc. CEO Martin J. Barrington's pay package jumped to nearly $17.5 million for fiscal 2013.
That's according to an Associated Press analysis of a regulatory filing made by the owner of the nation's biggest cigarette maker, Philip Morris USA.
Most of the increase in Barrington's compensation was the payout of a long-term performance-based bonus of $8 million that ran from 2011 to 2013.
He received a salary of $1.19 million and an additional bonus of $2.5 million. The value of his stock awards was $5.4 million.
The Richmond-based company saw its profit grow 8.5 percent to $4.5 billion. Revenue excluding excise taxes rose slightly to $17.7 billion.
The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.