Ameriprise CEO's Pay Rose 24% in 2023

Ameriprise Financial Chairman and CEO James Cracchiolo’s total compensation rose 24% to nearly $28.4 million last year, the company said in a recent preliminary proxy statement.

His compensation totaled more than $22.8 million in 2022 and $21.2 million in 2021.

Cracchiolo’s 2023 pay includes a $1.24 million salary, more than $12.6 million in stock awards, nearly $8.4 million in non-equity incentive compensation and $3.36 million in option awards, among other remuneration. It also includes over $1.9 million in indirect compensation, such as the change in pension value.

In 2022, by comparison, the CEO earned a $1.025 million salary, nearly $10.3 million in stock awards and $2.73 million in option awards.

“Led by Mr. Cracchiolo, our executive team delivered outstanding results while navigating a changing and uncertain environment throughout the year,” the company said in the filing. ”The annual cash and long-term awards provided to them reflect their consistency and ability to deliver exceptional performance for our stakeholders, including our shareholders.”