LabCorp CEO David King Sees 2.1 Percent Increase in Compensation for 2016

4/2/17

By Harrison Miller, NC BIZ News

The chairman and chief executive officer of Laboratory Corporation of America saw a 2.1 percent increase in total compensation in 2016 to $10.8 million, according to a company proxy statement filed with the Securities and Exchange Commission.

David King’s total compensation in 2015 was $10,626,414.

King’s base salary for 2016 was $1,133,333, up from the $1,044,481 he earned in 2015. He earned stock awards valued at $7,683,109, a decrease from 2015.

King’s non-equity incentive plan increased from $1,672,371 in 2015 to $1,785,419 for 2016. King’s pension value decreased to $101,810. All other compensation increased to $149,826 from $31,384 in 2015.

King joined LabCorp in 2001 and has served as the chairman, president, and CEO since 2009.

Laboratory Corporation of America will hold its annual shareholders meeting on Thursday, May 11 at 9 a.m. The meeting will include a vote to approve executive compensation.

LabCorp is a S&P 500 company headquartered in Burlington, North Carolina, and operates one of the largest clinical laboratory networks in the nation.

Its stock closed on March 31 at $143.47, down 51 cents, or 0.35 percent.

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