RALEIGH — PRA Health Sciences Inc.’s CEO received a 13.3 percent increase in total compensation in 2017, according to a Securities and Exchange Commission filing on Friday.
Colin Shannon’s total compensation for the 2017 fiscal year was $5.95 million compared to the $5.25 million he received in 2016.
His overall salary increase from 2017 to 2016 rose from $746,500 to $892,500.
Shannon’s bonus amounts equaled $546,000 in 2017 and $345,000 in 2016.
The Raleigh-based company entered into a four-year agreement with Shannon to continue to serve as the president and CEO on Jul 1, 2014. Effective July 1, 2017, Shannon’s base salary of $875,000 was increased to $910,000.
The company’s ratio of CEO’s annual total compensation to the median employee’s total compensation for the fiscal year of 2017 is 93 to 1.
Shannon has been president and CEO of PRA since 2007. Prior to joining PRA, Shannon was executive vice president of global clinical operations at Pharmaceutical Product Development Inc., where he oversaw clinical, biostatistics, and data management operations worldwide.
Shannon has had more than 15 years of experience in a variety of financial and accounting positions in the utility and multimedia industries.
PRA Health has over 13,000 employees operating in more than 80 countries. It specializes in clinical research, Phase I-lla, Phase II-lll, post approval, therapeutic exercise, biosimilars, rare disease and oncology.
The company was awarded the Best CRO at the 2018 Vaccine Industry Excellence Awards and most recently opened a new clinic in Salt Lake City, Utah.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
