The No. 2 executive at Discover Financial outearned his boss last year.
President Roger Hochschild's total compensation nearly doubled in a year to $10.1 million, compared with the relatively flat $8.5 million pulled in by Chief Executive David Nelms.
Mark Graf, the chief financial officer of the Riverwoods-based financial services company, saw his compensation more than double to $7 million.
Discover's proxy statement, filed Thursday with the Securities and Exchange Commission, explains that Graf and Hochschild got "special awards" — specifically restricted stock units valued at $4 million and $5.4 million, respectively — as a way to...