Unilife Corp. Chairman and CEO Alan Shortall, whose company is in the process of laying off about 17 percent of its staff, watched his total compensation package jump more than 1,100 percent to almost $8.5 million in fiscal year 2015.
According to the company’s proxy report filed Friday morning, Shortall, on the strength of a $7.54 million stock award, saw his total compensation rise from about $703,000 in 2014 to more than $8.45 million in 2015.
Shortall’s salary didn’t budge, remaining at $420,000. But he doubled his annual bonus from $210,000 to $420,000.
He also received just more than $43,000 for the purchase and maintenance of a vehicle and almost $18,000 “related to travel expenses of family members accompanying Mr. Shortall on business trips,” according to the proxy.
Ramin Mojdeh, president and COO of Unilife, did not have a stock award this year, and his total compensation fell from $1.15 million to about $880,000. Included in his compensation is more than $104,000 in housing costs.
David Hastings, who came on as CFO and senior vice president in February, had total compensation of about $1.36 million, including more than $1.22 million in stock awards.
York County-based Unilife announced in September it would lay off about 50 workers to try to stem $91 million in losses in fiscal 2015, which ended on June 30 for the company. The layoffs will save about $4 million in expenses, the company said.
The layoff announcement came just weeks after Unilife announced it would consider selling the company.
JPMorgan Chase & Co. remained the largest shareholder in the company. It went from an 8.5 percent ownership stake in 2014 to a 10.7 percent ownership stake this year by purchasing almost 5.5 million shares through the last year.
Unilife trades its shares on the NASDAQ exchange at the ticker symbol UNIS.