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Compensation and Benefits

Legg Mason CEO's pay down 9 percent in 2015

Legg Mason CEO's pay down 9 percent in 2015

Legg Mason CEO Joseph A. Sullivan's compensation in fiscal year 2015 fell after rising more than 50 percent the year before, according to a Wednesday filing. Sullivan's compensation, which includes a base salary of $500,000 and various cash bonuses and stock awards, was $10.57 million in the fiscal year ending on March 31, 2015. In the last fiscal year it was $11.55 million, and in the year before that it was $7.3 million. He began the CEO job at the Baltimore-based money manager in 2013. Sullivan's cash bonus and stock awards increased over the year before, but his option awards dropped from about $6 million to $1.8 million. Legg spokeswoman Mary K. Athridge said Sullivan...

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