In his annual letter to Berkshire Hathaway shareholders released in February, CEO Warren Buffett reflected on several corporate governance challenges boards face today. 191 0 obj <>stream Director Compensation Only directors who are neither an employee of the Company or a subsidiary nor a spouse of an employee receive compensation for serving on the Board. Berkshire Hathaway directors received $3,800. Berkshire said it may choose future board members from that list, noting that four directors, including Buffett, are between 89 and 96 years old. Berkshire Hathaway Board of Directors Compensations and Salary 2018. The Chief Executive Officer, Warren E. Buffet Charles T. Munger, Vice Chairman of Berkshire Hathaway. Total Compensation $380,328: Marc D. Hamburg Senior Vice President/CFO: Total Cash $3,250,000: Equity $0: Other $14,250: Total Compensation $3,264,250: Charles T. Munger Vice Chairman of the Board: Total Cash $100,000: Equity $0: Other $0: Total Compensation $100,000: Ajit Jain Vice Chairman-Insurance Operations: Total Cash $19,000,000: Equity $0: Other $14,250: Total Compensation … He will also continue to provide oversight as Chairman of the Duracell Company Board of Directors. The chart on this page features a breakdown of the total annual pay for William J. Fehrman, Chairman of the Board of Directors and Chief Executive Officer at BERKSHIRE HATHAWAY ENERGY CO as reported in their proxy statements. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 … endstream endobj startxref The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Berkshire Hathaway and FIS did not immediately return requests for comment. BERKSHIRE HATHAWAY ENERGY CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Changes in the form and amount Berkshire said it may choose future board members from that list, noting that four directors, including Buffett, are between 89 and 96 years old. Unlike most big companies, Berkshire doesn’t grant stock compensation to its top executives. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Warren Buffett On Board Governance, Director Selection And Compensation. I recognize Miss Debbie Bosanek to place a motion before the meeting on this item. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. Each board member gets just $300 for each telephone board meeting and $900 for those held in person. Coronavirus Tips – Working and Protection. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. As Chairman of the Board of Directors and Chief Executive Officer at BERKSHIRE HATHAWAY ENERGY CO, William J. Fehrman made $0 in total compensation. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. The California Public Employees’ Retirement System and Neuberger Berman have requested that a conglomerate in Omaha, Nebraska invite new directors to provide more disclosure about climate risk and executive compensation. Case summary • Berkshire Hathaway is known to many as the investment vehicle of Warren E. Buffett. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. The next item on the agenda is an advisory vote on the compensation of Berkshire Hathaway's executive officers. Thorough reviews have been conducted to assure this data accurately reflects disclosures. You may also find the annual proxy statement by going directly to the company's website. The role of the Governance Committee is to assist the Board of Directors by a) recommending governance guidelines applicable to Berkshire; b) identifying, evaluating and recommending the nomination of Board members; c) setting the compensation of Berkshire’s Chief Executive Officer and performing other compensation oversight; and d) assisting the Board with other related tasks, as … Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. We've detected you … Berkshire Hathaway proxy shows that on matters like executive compensation and board member composition, it is unlike any other major corporation. The Board of Directors has determined that Mr. Murphy is an “audit committee financial expert” as that term is used in Item 401(h) of Regulation S-K promulgated under the Securities Exchange Act. Medill Reports. Chief Operating Officer at Berkshire Hathaway Homestate Companies Workers' Compensation Division Andy Linkhart CFO, Treasurer, and member of the Board of Directors at Berkshire Hathaway … The array of companies that Berkshire Hathaway owned was unique in its diversity. 0 There are currently 12 people on the board of directors of Berkshire Hathaway. Represents the costs of personal and home security services provided for Mr. Buffett and paid by Berkshire (2013 — $385,606, 2012 — $323,923 and 2011 — $346,925) and the value of director’s fees ($45,000 in 2011) received by Mr. Buffett from serving on the Board of Directors of The Washington Post Company in which Berkshire had a significant ownership interest. All proxy statements are public filings made available to the general public by the SEC. The highest total compensation he's ever received at Berkshire was $525,000 in 2010, comprising his $100,000 salary, $75,000 in directors' fees, and $350,000 allocated to his security costs. Conglomerates,Compensation,Risk management,Management development,Board of directors,Corporate governance,Management controls Format Type Filter: ... has been paid to the management success of Berkshire Hathaway. Berkshire’s 14-member board is one of the lowest paid—and oldest—among major companies. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). h�b```�E��� ��ea�h`���M� ��������'ř�;$::����*$ ���@�:�!C9s-ss:��3s!��#�aY�nqm�L:[@��h�fc`�sa ��Cn8�[%T�-@� |�� Berkshire’s 14-member board is one of the lowest paid—and oldest—among major companies. Todd Combs, an investment officer at Berkshire Hathaway Inc., received $376,750 in total compensation last year for serving on the board of directors at JPMorgan Chase & Co. That’s nearly 140 times what Bill Gates earned as a director on the board of Berkshire. We are for the most part including companies from 2011’ s Fortune 500 and using information found in their 2011 proxy statements. This board member received US$3,300 as … endstream endobj 163 0 obj <. This board member earned US$297,500 as total compensation including cash salary US$35,000, and stock awards (Equity) US$262,500. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. h�bbd```b``z "��Iy�� , &5���@$�:B�eXd!��fg��I`�0;Dx$�JA� ��%�� h�!Hh6Q�ư� : %PDF-1.6 %���� %%EOF Less attention, however, has been paid to the management success of Berkshire Hathaway. While acknowledging the difficulties, he suggests that directors must meet these challenges head on as part of their obligation to shareholders, stakeholders and their companies. This post is part of an ongoing series that examines the way stock exchange independence rules relate to director compensation. 8. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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