In his first full year as CEO, Aetna's Mark T. Bertolini was compensated $9.7 million, not including $7.3 million in stock awards that will vest later.
Bertolini, 55, took the top job at the Hartford-based health insurer after former CEO Ronald A. Williams stepped down Nov. 29, 2010. Williams remained chairman until his retirement in April 2011.
Bertolini's pay package includes $1 million in salary, $2 million in cash incentives, $251,396 in "other compensation" and $6.5 million in value realized by exercising options. In addition, he received the stock awards that depend on company performance.
In 2010, Bertolini was compensated $4.8 million in salary, incentive pay, change in pension value, stocks vested and other compensation. Additionally, he received $5.8 million in stock awards that vest later and depend on performance. His pay last year is up 105 percent compared with 2010.
The company's stock price opened last year at $31.04 on Jan. 3, 2011, and ended the year at $42.19 on Dec. 30, 2011. The stock rose steadily through June 2011, then fell with equity markets and climbed back up by the end of the year.
Other executives received the following in 2011:
General counsel William J. Casazza's compensation was $2.5 million, not including $2.1 million in stock awards that vest later and depend on the company's performance and $192,553 added to his pension.
Executive vice president of operations and technology, Margaret M. McCarthy was compensated $2.48 million, not including $2.77 million in stock awards and $4,283 added to her pension.
Chief medical officer Lonny Reisman received $2.7 million, not including $1.6 million in stock awards.
Chief financial officer Joseph M. Zubretsky received $2.26 million, not including $5.8 million in stock awards and $10,165 added to his pension.