The changes come after a year in which Lone Star Investors mounted a proxy fight to oust the company's board claiming, among other issues, that it was overpaying its leaders. Lone Star later withdrew its challenge after it was given two seats on the Edgewater board of directors. The largest decline hit David Clancy, EVP, chief strategy officer and chief technology officer, whose pay for the most recently ended year fell to $749,848 from $1,067,427. As with three other executives, the decline put his 2015 compensation below that of 2013. CEO Shirley Singleton had the second-largest decline as her compensation fell to $802,733, down 31.3 percent from $1,168,813 for 2014. Compensation dropped by 23.6 percent for Robin Ranzal-Knowles, president of Edgewater Technology-Ranzal, its Oracle business. Her 2015 pay was $622,213, below the prior year's figure, $814,699. CFO Timothy Oakes saw his financial reward fall to $623,682 last year, down 14.4 percent from $728,541. Oakes was the only one of the five executives whose 2015 pay was higher than compensation in 2013. Kristin Zaepfel, VP of human resources, received $326,149, a drop of 17.4 percent from 2014's $326,149. Compensation reached its 2014 levels after all five received sharp increases in non-equity incentive plan compensation. In that category, Shingleton received 63.7 percent more in 2014 than in 2013; Clancy 63.7 percent.Last modified on Friday, 29 April 2016
EDGEWATER EXEC PAY DROPS Featured
Top executives at Edgewater Technology saw their pay fall for the year ended December 31. Documents filed with the SEC this week show that total compensation for the company's five named executives fell by double digits, ranging from 14.4 to 42.5 percent. In the case of all five, the contributing factor was a sharp cut in non-equity incentive plan compensation. All of them received hikes in base salary which will raise target bonuses for 2016.