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Sotheby's CEO Got $20 Million Pay Package in First Year at Helm

  • Compensation for 2015 includes $17.9 million in stock awards
  • Shares declined 39% in his first nine months on the job

Sotheby’s Chief Executive Officer Tad Smith received a pay package worth $20 million in 2015, his first year leading the company.

Smith, who started on March 31, 2015, received a salary of $1.06 million, a sign-on bonus of $1.1 million and a stock award valued at $16.5 million, according to a filing with the Securities and Exchange Commission on Thursday. He also accepted a $1.4 million stock award in place of an annual cash bonus.