Actavis ($ACT) CEO Paul Bisaro has been on a roll lately. He's scored one M&A deal after another, with Warner Chilcott wrapping up last year and Forest Laboratories ($FRX) currently on deck. And his pocketbook has shared in the bounty.
Bisaro netted a $4 million bonus from Actavis' compensation committee, the company said in a securities filing yesterday. The bonus rewards Bisaro for meeting his own personal benchmarks for the year, plus Actavis's own financial achievements, the filing said. Not to mention "special consideration for the completion of the acquisition of Warner Chilcott."
It's another bonus, we should say; the company handed out retention bonuses in November, with $5 million earmarked for Bisaro. He has to stick around till Jan. 1, 2016, to collect it all, but it's not as if he's shown any sign of leaving.
And that's after the company allowed executive share awards to vest early--all $101 million worth. Otherwise, the Actavis managers would have taken a 15% tax hit when the company moved its domicile to Ireland, which was one of the motivations behind the Warner Chilcott deal. According to a proxy statement filed last August, Bisaro's share of that early-vesting pool was more than $40 million.
So, thanks to the Warner Chilcott acquisition and his own performance on goal, Bisaro is enjoying an extra $49 million in compensation. That's quite a deal.
- read the SEC filing
Special Reports: The 25 most influential people in biopharma - Paul Bisaro | The 20 highest-paid biopharma CEOs of 2012