Compensation for Paychex CEO Martin Mucci more than doubled for the year ended May 31. Mucci earned just over $7 million for the most recently ended year, up from $3.3 million in 2012 with a big jump in options award figuring heavily in the total.
Mucci received option awards of $3.1 million for 2012, up from $726,938 the prior year. Stock awards rose to $2.2 million from $1.2 million.
Among the payroll company's named executive officers, other than Mucci the list reflected retirements, new hires and executives with new responsibilities. Among the latter was Michael E. Gioja, EVP of information technology, product management and development, who had $2.3 million in compensation for 2012. In 2011, with was VP of product management and development and made $755,212.
CFO John Murphy retired during the year and his successor, Efrain Rivera, received $2.4 million. Mark Bottini, who took the job of VP of sales in October, earned $2.2 million, which included a $200,000 signing bonus.