How much are Canada’s top CEOs paid? Here’s the full breakdown

This is a ranking of compensation in fiscal 2020 for the chief executive officers from the 100 largest public companies (by market capitalization) in Canada’s benchmark S&P/TSX composite index as of Dec. 31, 2020.

Prepared by Global Governance Advisors, the information comes from management information circulars filed for fiscal year 2020.

Most of Canada’s top CEOs saw pay climb as COVID-19 hit economy

CEO Compensation

Rank	Name	Company	Salary	Bonus	Cash compensation (Salary + Bonus)	% Change	All Other Compensation	Share-Based Awards	Option-Based Awards	Total Stock Awards	Pension Value	Total Reported Compensation	% Change	Unexercised In-the-Money Options	Unvested Share-Based Awards	Value of CEO's Equity	Accrued CEO Pension Obligation
1	Patrick Dovigi	GFL Environmental Inc (2)	$2,027,342	$5,428,988	$7,456,330	*	$3,285,639	$0	$26,566,553	$26,566,553	$0	$37,308,522	*	$86,803,218	$0	$448,139,113	$0
2	José Cil	Restaurant Brands International Inc	$741,907	$2,262,039	$3,003,946	18%	$130,236	$23,752,896	$0	$23,752,896	$0	$26,887,078	-2%	$9,732,829	$70,823,271	$121,934,659	$0
3	Mark Bristow	Barrick Gold Corp	$2,413,271	$6,950,220	$9,363,491	-2%	$191,986	$13,345,454	$0	$13,345,454	$1,404,524	$24,305,455	5%	$0	$25,628,226	$233,291,599	$0
4	Glenn Chamandy	Gildan Activewear Inc	$1,432,494	$2,459,679	$3,892,173	88%	$154,382	$7,641,998	$10,470,149	$18,112,147	$75,917	$22,234,620	135%	$979,295	$20,189,112	$132,921,870	$0
5	Donald Walker	Magna International Inc	$435,729	$5,531,753	$5,967,483	-27%	$174,292	$9,572,641	$6,381,761	$15,954,402	$0	$22,096,177	-9%	$80,852,621	$38,411,229	$158,197,955	$0
6	Tobias Lütke	Shopify Inc	$140,400	$0	$140,400	-83%	$0	$0	$20,111,203	$20,111,203	$0	$20,251,603	44%	$867,862,933	$8,283,128	$15,677,200,847	$0
7	Joseph Papa	Bausch Health Companies Inc	$2,046,640	$2,895,925	$4,942,565	-21%	$71,812	$10,897,134	$3,018,401	$13,915,536	$0	$18,929,913	-17%	$9,084,475	$27,498,114	$26,329,438	$0
8	Al Monaco	Enbridge Inc	$1,546,139	$3,205,919	$4,752,058	-10%	$61,568	$8,475,960	$2,303,250	$10,779,210	$1,462,000	$17,054,836	-5%	$349,575	$12,925,400	$40,740,931	$29,977,000
9	Keith Creel	Canadian Pacific Railway Ltd	$1,601,097	$3,442,359	$5,043,456	12%	$242,948	$6,826,446	$4,156,579	$10,983,025	$546,767	$16,816,196	11%	$113,549,072	$18,343,919	$22,880,590	$0
10	Chuck Magro	Nutrien Ltd	$1,699,374	$3,285,565	$4,984,940	25%	$139,842	$4,801,378	$5,472,190	$10,273,568	$973,351	$16,371,701	0%	$18,074,855	$11,785,091	$9,587,762	$10,561,277
11	Darren Entwistle	Telus Corp	$1,031,250	$1,711,960	$2,743,210	30%	$126,763	$12,000,000	$0	$12,000,000	$1,167,000	$16,036,973	24%	$0	$19,669,220	$9,693,321	$28,832,000
12	Steve Hasker (1)	Thomson Reuters Corp	$1,270,351	$2,242,517	$3,512,868	*	$3,187,147	$6,360,012	$2,119,997	$8,480,009	$0	$15,180,024	*	$1,867,991	$7,007,153	$16,598,250	$0
13	Roy Gori	Manulife Financial Corp	$1,584,887	$3,580,497	$5,165,384	-19%	$168,816	$5,887,690	$2,523,296	$8,410,986	$951,902	$14,697,088	0%	$2,451,160	$14,826,382	$18,720,601	$0
14	Russell Girling	TC Energy Corp	$1,465,835	$2,389,500	$3,855,335	-1%	$14,658	$5,760,000	$3,840,000	$9,600,000	$1,082,000	$14,551,993	8%	$2,948,075	$5,120,171	$17,796,652	$26,220,000
15	Sean Boyd	Agnico Eagle Mines Ltd	$1,848,820	$3,747,609	$5,596,429	-10%	$19,065	$7,981,907	$0	$7,981,907	$597,248	$14,194,649	15%	$0	$17,906,664	$32,845,855	$22,899,688
16	David McKay	Royal Bank of Canada	$1,500,000	$1,406,250	$2,906,250	-29%	$44,877	$7,560,000	$1,890,000	$9,450,000	$1,080,000	$13,481,127	-2%	$10,212,452	$20,229,855	$25,669,225	$20,278,000
17	Mark Barrenechea	Open Text Corp	$1,249,790	$2,746,353	$3,996,143	1%	$63,875	$6,664,106	$2,348,035	$9,012,140	$0	$13,072,159	22%	$26,746,742	$20,592,474	$62,134,266	$0
18	Michael Medline	Empire Company Ltd	$1,109,610	$1,406,250	$2,515,860	13%	$55,075	$1,856,250	$8,137,500	$9,993,750	$471,000	$13,035,685	141%	$5,137,368	$4,019,020	$5,900,056	$993,000
19	Jeffrey Orr (1)	Power Corporation of Canada	$4,776,000	$0	$4,776,000	*	$493,714	$3,034,062	$6,067,270	$9,101,332	-$1,413,000	$12,958,046	*	$6,567,851	$7,962,616	$41,867,144	$43,368,000
20	Gerald Schwartz	Onex Corp	$1,742,918	$6,703,530	$8,446,448	8%	$0	$0	$4,417,972	$4,417,972	$0	$12,864,421	-12%	$61,659,500	$0	$1,166,592,487	$0
21	Alain Bedard	TFI International Inc	$1,876,989	$4,220,537	$6,097,526	8%	$2,248,375	$3,662,023	$0	$3,662,023	$698,240	$12,706,164	17%	$52,822,518	$9,037,159	$311,196,936	$18,438,735
22	Donald Lindsay	Teck Resources Ltd	$1,677,150	$2,941,200	$4,618,350	32%	$0	$3,499,000	$3,500,000	$6,999,000	$651,000	$12,268,350	34%	$27,333,730	$6,778,464	$32,004,427	$13,731,000
23	Brian Porter	Bank of Nova Scotia	$1,300,000	$2,142,000	$3,442,000	-5%	$3,588	$5,142,000	$1,285,000	$6,427,000	$2,349,000	$12,221,588	-3%	$0	$14,017,055	$8,653,809	$22,666,000
24	Brian Hannasch	Alimentation Couche-Tard Inc	$1,850,455	$2,996,118	$4,846,573	30%	$0	$5,306,160	$988,767	$6,294,927	$951,357	$12,092,857	28%	$42,348,614	$4,812,119	$28,227,288	$17,591,329
25	Joe Natale	Rogers Communications Inc	$1,293,048	$941,551	$2,234,599	-20%	$177,079	$4,000,169	$4,000,009	$8,000,178	$808,400	$11,220,256	-4%	$336,704	$11,479,013	$635,504	$5,576,100
26	Darryl White	Bank of Montreal	$1,000,000	$2,392,500	$3,392,500	1%	$3,000	$4,545,750	$1,326,750	$5,872,500	$1,818,920	$11,086,920	2%	$299,860	$12,034,723	$7,575,516	$6,003,799
27	Jean-Jacques Ruest	Canadian National Railway Co	$1,140,275	$313,334	$1,453,609	46%	$19,973	$6,118,773	$2,730,880	$8,849,653	$490,000	$10,813,235	21%	$28,316,058	$21,442,325	$50,909,892	$13,422,000
28	Clive Johnson	B2Gold Corp	$1,742,918	$1,307,188	$3,050,106	27%	$346,634	$6,703,530	$670,353	$7,373,883	$0	$10,770,624	45%	$0	$17,104,730	$32,234,723	$0
29	Bharat Masrani	Toronto-Dominion Bank	$1,450,000	$1,790,000	$3,240,000	-6%	$82,953	$4,825,340	$2,376,698	$7,202,038	$0	$10,524,991	-17%	$17,288,439	$16,804,481	$81,900,238	$23,254,000
30	J. Paul Rollinson	Kinross Gold Corp	$1,563,691	$2,876,559	$4,440,250	19%	$397,841	$4,794,264	$0	$4,794,264	$703,660	$10,336,015	13%	$14,705,112	$16,646,638	$50,628,123	$0
31	Mark Little	Suncor Energy Inc	$990,635	$575,000	$1,565,635	-45%	$91,023	$6,375,042	$2,125,005	$8,500,047	-$16,200	$10,140,505	-13%	$0	$5,649,779	$4,283,024	$24,036,977
32	Charles Brindamour	Intact Financial Corp	$1,261,000	$2,388,610	$3,649,610	18%	$0	$6,305,000	$0	$6,305,000	$158,639	$10,113,249	11%	$0	$22,833,477	$62,584,671	$16,900,859
33	Dean Connor	Sun Life Financial Inc	$1,100,000	$1,920,000	$3,020,000	2%	$95,048	$4,875,042	$1,625,007	$6,500,049	$475,277	$10,090,374	5%	$13,963,339	$15,518,796	$13,776,318	$8,349,000
34	Barry Perry	Fortis Inc	$1,325,000	$2,170,000	$3,495,000	-11%	$211,104	$4,173,750	$1,391,250	$5,565,000	$484,840	$9,755,944	-4%	$3,777,066	$6,157,619	$16,731,520	$0
35	Victor Dodig	Canadian Imperial Bank of Commerce	$1,000,000	$1,602,000	$2,602,000	4%	$2,250	$5,126,400	$1,281,600	$6,408,000	$666,000	$9,678,250	7%	$80,924	$10,432,399	$12,978,612	$10,492,000
36	Ann Fandozzi (1)	Ritchie Bros Auctioneers Inc	$1,193,484	$2,749,997	$3,943,482	*	$136,851	$4,893,579	$670,357	$5,563,936	$0	$9,644,269	*	$3,910,963	$16,514,631	$113,525	$0
37	Alexander Pourbaix	Cenovus Energy Inc	$961,458	$1,300,750	$2,262,208	-27%	$100,879	$3,519,997	$3,519,998	$7,039,995	$108,917	$9,511,999	5%	$0	$6,347,344	$10,960,964	$0
38	Mirko Bibic (1)	BCE Inc	$1,300,000	$1,610,700	$2,910,700	*	$210,016	$4,500,000	$1,500,000	$6,000,000	$356,583	$9,477,299	*	$31,945	$5,887,972	$6,015,434	$0
39	George Schindler	CGI Inc	$945,836	$0	$945,836	-75%	$60,216	$8,449,926	$0	$8,449,926	$3,364	$9,459,342	-9%	$41,794,951	$14,058,185	$832,777	$0
40	Daniel Racine	Yamana Gold Inc	$2,185,100	$2,286,160	$4,471,260	19%	$446,911	$3,441,528	$0	$3,441,528	$899,305	$9,259,005	35%	$105,866	$6,913,777	$6,054,115	$0
41	Calin Rovinescu	Air Canada	$910,005	$723,000	$1,633,005	-67%	$0	$3,124,635	$3,537,143	$6,661,778	$964,200	$9,258,983	-28%	$16,115,811	$8,156,419	$13,650,497	$17,309,700
42	Randall Crawford	AltaGas Ltd	$1,240,907	$2,047,464	$3,288,371	-8%	$49,420	$2,905,687	$1,931,252	$4,836,939	$1,014,662	$9,189,392	17%	$2,619,352	$8,855,739	$1,282,320	$1,935,964
43	Galen Weston	Loblaw Companies Ltd	$480,000	$648,000	$1,128,000	-9%	$21,563	$1,600,030	$799,998	$2,400,028	$0	$3,549,591	-3%	$1,726,052	$4,927,879	$970,421,578	$0
44	Bruce Flatt	Brookfield Asset Management Inc	$1,032,880	$0	$1,032,880	4%	$77,466	$7,756,119	$0	$7,756,119	$0	$8,866,465	2%	$0	$42,518,202	$4,264,856,776	$0
45	José Boisjoli	BRP Inc	$1,119,572	$2,830,198	$3,949,770	36%	$2,088	$0	$4,006,286	$4,006,286	$519,000	$8,477,144	1%	$73,196,445	$0	$85,209,500	$16,950,000
46	Stephen Wetmore	Canadian Tire Corporation Ltd	$1,523,077	$2,100,938	$3,624,015	-26%	$279,010	$4,499,867	$0	$4,499,867	$0	$8,402,892	-13%	$0	$9,438,751	*	$0
47	Louis Vachon	National Bank of Canada	$1,125,015	$1,231,875	$2,356,890	-9%	$3,693	$3,375,000	$1,687,520	$5,062,520	$918,000	$8,341,103	-1%	$38,900,879	$10,922,206	$19,027,976	$24,053,000
48	Michael Dilger	Pembina Pipeline Corp	$1,191,667	$1,188,000	$2,379,667	-19%	$74,717	$3,132,000	$2,088,000	$5,220,000	$298,445	$7,972,829	0%	$0	$4,031,383	$9,093,728	$5,002,780
49	Scott Balfour	Emera Inc	$1,038,461	$1,420,000	$2,458,461	15%	$36,546	$3,750,210	$1,249,800	$5,000,010	$293,000	$7,788,017	16%	$7,380,484	$8,006,708	$7,766,217	$3,935,000
50	Tim McKay	Canadian Natural Resources Ltd	$519,940	$982,686	$1,502,626	-25%	$105,749	$3,272,344	$2,897,500	$6,169,844	$0	$7,778,219	-5%	$2,160,625	$14,735,630	$35,971,943	$0
51	D. Scott Patterson	FirstService Corp	$550,092	$1,014,915	$1,565,006	-23%	$0	$0	$5,956,087	$5,956,087	$0	$7,521,093	26%	$55,538,817	$0	$207,239,148	$0
52	Paul Mahon	Great-West Lifeco Inc	$1,310,563	$2,463,266	$3,773,829	29%	$32,525	$2,839,503	$1,892,766	$4,732,269	-$1,026,615	$7,512,008	-2%	$1,165,581	$8,585,076	$12,425,351	$35,150,319
53	Marc Parent	CAE Inc	$1,039,683	$1,684,700	$2,724,383	-2%	$206,175	$2,930,078	$1,254,825	$4,184,903	$308,000	$7,423,461	-2%	$1,073,480	$6,361,330	$14,713,017	$10,149,000
54	Anthony Makuch	Kirkland Lake Gold Ltd	$1,354,226	$3,961,894	$5,316,119	103%	$98,703	$1,880,313	$0	$1,880,313	$27,234	$7,322,370	56%	$0	$4,628,117	$9,396,519	$0
55	Denis Ricard	iA Financial Corporation Inc	$950,000	$1,227,891	$2,177,891	22%	$0	$284,984	$763,200	$1,048,184	$3,677,435	$6,903,510	22%	$2,233,559	$552,853	$5,951,837	$22,745,250
56	Alexandre L'Heureux	WSP Global Inc	$1,088,909	$1,236,000	$2,324,909	-11%	$538,728	$2,874,217	$1,158,743	$4,032,960	$0	$6,896,597	-2%	$27,092,209	$8,078,469	$25,551,043	$0
57	Bradley Shaw	Shaw Communications Inc	$2,000,000	$5,265,436	$7,265,436	-3%	$458,033	$1,916,359	$0	$1,916,359	-$2,772,170	$6,867,658	-43%	$25,800	$4,777,065	$140,571,321	$139,717,000
58	Neil Rossy	Dollarama Inc	$1,236,000	$1,854,000	$3,090,000	44%	$0	$0	$3,729,000	$3,729,000	$12,132	$6,831,132	80%	$6,546,264	$0	$765,401,139	$0
59	Worthing Jackman	Waste Connections Inc	$1,191,166	$1,508,294	$2,699,461	12%	$97,153	$3,959,635	$0	$3,959,635	$0	$6,756,248	49%	$0	$7,945,826	$21,507,193	$0
60	Tim Gitzel	Cameco Corp	$1,060,900	$1,400,000	$2,460,900	-11%	$0	$3,766,285	$0	$3,766,285	$315,000	$6,542,185	-7%	$2,194,528	$2,222,672	$5,886,376	$8,643,300
61	Edward Ryan	Descartes Systems Group Inc	$589,911	$589,911	$1,179,821	1%	$2,681	$4,432,102	$669,376	$5,101,478	$0	$6,283,981	43%	$3,465,878	$9,752,319	$50,144,748	$0
62	Jeffrey Carney	IGM Financial Inc	$1,262,750	$2,142,676	$3,405,426	-30%	$127,650	$1,161,741	$1,108,625	$2,270,366	$360,630	$6,164,072	-19%	$71,126	$3,425,808	$469,405	$0
63	John Sicard	Kinaxis Inc	$664,061	$1,138,406	$1,802,467	41%	$16,425	$2,145,229	$2,194,743	$4,339,972	$0	$6,158,863	56%	$64,589,000	$3,458,665	$79,503,065	$0
64	Sebastien de Montessus	Endeavour Mining Corp	$1,273,671	$1,512,484	$2,786,155	-3%	$822,624	$2,379,217	$0	$2,379,217	$0	$5,987,996	-16%	$0	$19,768,841	$29,382,561	$0
65	Randy Smallwood	Wheaton Precious Metals Corp	$1,105,000	$1,892,400	$2,997,400	29%	$0	$1,989,121	$523,763	$2,512,884	$317,691	$5,827,975	10%	$17,635,211	$13,130,503	$11,097,150	$0
66	Marie Inkster	Lundin Mining Corp	$1,100,478	$1,193,519	$2,293,998	4%	$27,242	$1,829,292	$1,550,334	$3,379,625	$0	$5,700,865	20%	$8,085,817	$6,044,741	$6,843,079	$0
67	Jay Forbes	Element Fleet Management Corp	$1,000,000	$1,180,000	$2,180,000	-22%	$0	$3,500,000	$0	$3,500,000	$0	$5,680,000	-2%	$19,125,000	$9,485,751	$5,352,000	$0
68	Geoffrey Martin	CCL Industries Inc	$1,366,318	$2,473,055	$3,839,373	27%	$0	$1,576,422	$0	$1,576,422	$256,934	$5,672,729	-71%	$300,760	$17,014,590	$37,078,931	$0
69	Michael Steinmann	Pan American Silver Corp	$1,022,417	$1,704,280	$2,726,697	15%	$0	$2,450,000	$0	$2,450,000	$432,000	$5,608,697	23%	$0	$2,921,018	$4,358,216	$0
70	Rod Antal (1)	SSR Mining Inc	$1,016,255	$1,524,078	$2,540,334	*	$0	$2,815,483	$0	$2,815,483	$22,926	$5,378,743	*	$0	$18,311,987	$18,391,430	$0
71	Eric La Flèche	Metro Inc	$1,000,000	$1,430,000	$2,430,000	2%	$4,729	$1,200,160	$999,515	$2,199,675	$433,000	$5,067,404	2%	$21,050,958	$5,357,194	$16,097,931	$13,166,000
72	Philip Pascall	First Quantum Minerals Ltd	$1,536,228	$1,072,565	$2,608,793	-22%	$4,423	$2,413,271	$0	$2,413,271	$0	$5,026,487	-31%	$9,635,365	$11,687,851	$176,848,204	$0
73	Edward Sonshine	RioCan Real Estate Investment Trust	$1,300,000	$1,053,000	$2,353,000	-26%	$50,000	$2,600,000	$0	$2,600,000	$0	$5,003,000	-19%	$0	$5,234,205	$1,246,887	$7,095,300
74	Michael Rose	Tourmaline Oil Corp	$600,000	$3,750,000	$4,350,000	36%	$60,000	$0	$184,377	$184,377	$0	$4,594,377	36%	$182,400	$0	$277,967,990	$0
75	BW Corson (1)	Imperial Oil Ltd	$996,734	$0	$996,734	*	$1,945,980	$1,897,132	$0	$1,897,132	-$340,046	$4,499,800	*	$0	$3,778,624	$4,155,548	$0
76	John McKenzie (1)	TMX Group Ltd	$540,625	$1,204,500	$1,745,125	*	$184,945	$1,142,175	$168,075	$1,310,250	$1,252,635	$4,492,955	*	$4,264,667	$1,976,859	$943,874	$6,624,422
77	Ray Ferris	West Fraser Timber Co Ltd	$758,020	$1,093,750	$1,851,770	163%	$0	$834,895	$835,100	$1,669,995	$653,100	$4,174,865	15%	$4,892,471	$3,459,623	$3,376,119	$8,685,100
78	Lino Saputo Jr	Saputo Inc	$1,300,000	$2,704,000	$4,004,000	10%	$0	$0	$0	$0	$0	$4,004,000	10%	$0	$0	$4,632,764	$0
79	David Smith	Keyera Corp	$569,075	$506,002	$1,075,077	-29%	$0	$2,838,469	$0	$2,838,469	$56,910	$3,970,456	-6%	$0	$8,056,329	$16,453,705	$0
80	Mark Zekulin	Canopy Growth Corp	$383,844	$182,282	$566,127	-25%	$28,843	$0	$3,292,084	$3,292,084	$0	$3,887,053	-35%	$3,169,656	$0	$0	$0
81	Mark Kenney	Canadian Apartment Properties Real Estate Investment Trust	$828,084	$1,185,610	$2,013,694	32%	$82,484	$1,694,323	$0	$1,694,323	$0	$3,790,501	19%	$0	$2,825,112	$21,075,857	$0
82	Arun Banskota (1)	Algonquin Power & Utilities Corp	$708,846	$1,068,582	$1,777,428	*	$15,000	$1,345,082	$448,361	$1,793,443	$87,369	$3,673,240	*	$791,406	$1,596,977	$1,096,921	$0
83	Robert Espey	Parkland Corp	$775,654	$500,000	$1,275,654	-27%	$88,794	$1,687,489	$562,498	$2,249,987	$0	$3,614,435	-3%	$11,218,918	$4,796,644	$21,932,457	$0
84	Galen Weston	George Weston Ltd	$1,200,000	$1,608,120	$2,808,120	46%	$191,908	$3,400,054	$2,599,996	$6,000,050	$0	$9,000,078	59%	$2,004,658	$10,012,088	$6,969,458,257	$0
85	Paul Brink (1)	Franco-Nevada Corp	$673,790	$700,000	$1,373,790	*	$14,893	$2,100,000	$0	$2,100,000	$0	$3,488,683	*	$15,088,304	$4,284,782	$38,069,867	$0
86	Kevan Gorrie	Granite Real Estate Investment Trust	$800,000	$1,394,400	$2,194,400	12%	$0	$920,000	$0	$920,000	$0	$3,114,400	8%	$0	$4,348,595	$4,534,687	$0
87	Michael Emory	Allied Properties Real Estate Investment Trust	$950,000	$760,000	$1,710,000	-15%	$47,500	$593,755	$593,750	$1,187,505	$0	$2,945,005	-28%	$466,875	$1,453,202	$50,463,872	$0
88	Scott Medhurst	Toromont Industries Ltd	$702,934	$662,358	$1,365,292	-36%	$33,177	$0	$1,114,000	$1,114,000	$287,048	$2,799,517	-23%	$16,846,000	$0	$17,804,889	$0
89	Philip Fayer	Nuvei Corp (2)	$173,574	$173,077	$346,651	*	$1,324	$0	$2,187,500	$2,187,500	$0	$2,535,475	*	$7,714,704	$0	$2,356,868,040	$0
90	Mike Crawley	Northland Power Inc	$544,052	$572,250	$1,116,302	19%	$15,134	$1,354,017	$0	$1,354,017	$0	$2,485,453	16%	$0	$3,790,625	$3,920,339	$0
91	Siegfried Kiefer	Canadian Utilities Ltd	$810,000	$1,080,000	$1,890,000	25%	$28,350	$78,372	$218,547	$296,919	$203,228	$2,418,497	87%	$63,550	$0	$1,178,218	$13,863,458
92	Randy MacEwan	Ballard Power Systems Inc	$619,466	$598,800	$1,218,266	1%	$54,903	$787,500	$262,500	$1,050,000	$0	$2,323,169	19%	$0	$8,973,243	$11,124,641	$0
93	Marna Cloete (1)	Ivanhoe Mines Ltd	$606,285	$0	$606,285	*	$31,411	$555,270	$418,971	$974,240	$0	$1,611,936	*	$1,924,424	$1,051,210	$4,404,431	$0
94	Dax Dasilva	Lightspeed POS Inc	$319,576	$0	$319,576	-18%	$3,631	$472,532	$708,798	$1,181,330	$0	$1,504,536	284%	$0	$0	$266,269,140	$0
95	Patrick Decostre (1)	Boralex Inc	$381,587	$359,439	$741,026	*	$157,668	$143,991	$53,999	$197,990	$37,069	$1,133,753	*	$1,848,916	$455,819	$351,985	$0
96	Mark Poweska	Hydro One Ltd	$507,889	$507,889	$1,015,778	54%	$15,458	$0	$0	$0	$45,438	$1,076,674	59%	$0	$0	$121,672	$0
97	Pierre Karl Péladeau	Quebecor Inc	$990,430	$0	$990,430	-62%	$0	$0	$0	$0	$51,800	$1,042,230	-61%	$0	$0	$2,319,021,827	$9,511,600
98	John H. Kousinioris	TransAlta Renewables Inc	$203,520	$206,064	$409,584	5%	$10,468	$325,632	$81,408	$407,040	$137,580	$964,672	11%	*	*	$55,270	*
99	V. Prem Watsa	Fairfax Financial Holdings Ltd	$600,000	$0	$600,000	0%	$60,150	$0	$0	$0	$0	$660,150	-16%	$0	$0	$1,016,226,378	$0
100	Mark Leonard	Constellation Software Inc	$0	$0	$0	*	$0	$0	$0	$0	$0	$0	*	$0	$0	$711,593,630	$0

Source: Global Governance Advisors

(1) These CEOs are new to their roles.
(2) GFL Environment and Nuvei Corp are newly listed on the TSX and do not have disclosure for previous years
* = Information not available

The Methodology

If a company does not have a CEO, the president or a similar top executive is used. When CEOs have changed during the year, the chart typically shows the CEO who was in place for the larger portion of the year.

For companies that report pay in U.S. dollars, the amounts are converted to Canadian dollars at the average annual exchange rate for 2020. If the company has an irregular year-end, the exchange rate is the rate used by the company for its currency conversion.

Salary is base salary in 2020.

Bonus is the value of any annual and long-term cash incentives paid for 2020 performance, typically paid after the end of the fiscal year.

Total Cash Compensation is the sum of salary and bonus.

Percent change is the change from 2019′s total salary and bonus. No number is shown if the CEO was not in the same position for all of 2019 and 2020.

Other includes all other payments and the cash value of perquisites and benefits.

Share-based awards is the total value of shares, share units, trust units or similar long-term incentive plan grants in 2020.

Option-based awards is the estimated grant date value of new stock options awarded to the CEO in 2020.

Total stock awards is the sum of the values of share-based awards and option-based awards.

Pension value is the additional annual value of the pension benefit earned by the CEO in 2020.

Unexercised in-the-money options is the year-end value of stock options held by the CEO.

Unvested share-based awards is the year-end value of share units or similar compensation that has not yet met time or performance conditions required for payout.

Value of CEO’s equity is the year-end value of common shares owned and vested stock units held by the CEO as per the company’s most recent proxy circular disclosure, valued at the end of the company’s fiscal year. This excludes unvested share units and unexercised stock options. Share holdings may have changes since the end of the fiscal year due to subsequent grants of shares by the company or sales of stock on the open market by the CEO.

Accrued CEO pension obligation is the estimated year-end value of a company’s total expected cost to provide the CEO’s defined-benefit pension. It excludes the value of any defined-contribution pension accrued by the CEO.

Download sortable excels here.

CEO Compensation

The Methodology

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CEO Compensation

The Methodology

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