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US executive pay bucked falling stock market in 2022

More than a third of S&P 500 executives received pay rises last year despite negative shareholder returns
Moderna increased pay for chief Stéphane Bancel by 6.7% to $19.4mn last year even as its total shareholder return fell 29%

Moderna, Simon Property Group and Marriott are among at least 107 S&P 500 companies that gave their chief executives pay increases last year even as their shares declined, according to regulatory disclosures.

More than a third of S&P 500 companies awarded executives more pay for 2022 than in 2021 even though they had negative total shareholder returns last year, according to a preliminary analysis of regulatory findings conducted by ISS Corporate Solutions (ICS) for the Financial Times.

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