T. Rowe Price Group CEO and President James A.C. Kennedy took home about $8.9 million in compensation last year after a boost in his incentive pay, according to the company's annual proxy filing with the U.S. Securities and Exchange Commission.
The Baltimore-based money management firm paid Kennedy a $350,000 base salary and $1.5 million in stock and option awards. His cash bonus was $7 million, up from $6.5 million the year before. He also received about $81,000 in other compensation. He earned $8.5 million in 2013.
Chairman and Chief Investment Officer Brian C. Rogers' compensation in 2014 was down slightly to $8.6 million from $8.65 million in 2013.
T. Rowe's earnings in 2014 were up 17 percent to $1.2 billion.
Members of the firm's board of directors also earned stock awards and other compensation. Freeman A. Hrabowski III, president of the University of Maryland, Baltimore County, earned about $324,000 from T. Rowe, while Olympia J. Snowe, a former U.S. Senator from Maine, earned about $327,000.
The company will hold its annual meeting April 23 at its Owings Mills campus.