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These Were ServiceNow’s Top 6 Highest Compensated Executives In 2020

Fiscal 2020 was a great year for ServiceNow, and a great year for the company’s top executives. Here are ServiceNow’s six highest compensated executives.

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Bill McDermott, President, CEO

Bill McDermott became president and CEO of ServiceNow on Nov. 18, 2019, after serving nine years as CEO of SAP and spending 17 years at Xerox, at which he was a division president and corporate officer.

McDermott received a base salary of $1 million in 2020, up significantly from the $128,846 he earned in the last couple months of 2019 after he started at the company. McDermott also received stock awards worth $18.41 million, down slightly from the $19.68 million he received in 2019.

He also received non-equity incentive plan compensation of $1.78 million, along with other compensation of $3.93 million, for total compensation of $25.12 million. Included in the “other” category is $3.90 million in cash payments to make up for a payment that “his prior employer refused to make as compensation for certain non-competition undertakings,” as well as $31,850 for reimbursement of expenses for legal or other advisors incurred in the review and finalization of his employment agreement, according to the ServiceNow proxy.

In total, he received 2020 compensation of $25.12 million, which was down from the $41.68 million he received in 2019. That 2019 compensation included option awards of $20.13 million. However, those options will be paid out over the next five years if the company’s share price meets certain levels.

According to the ServiceNow proxy, McDermott’s total 2020 compensation of $25.12 million is 120 times the $208,925 total 2020 compensation of the company’s median employee, who was determined to be a senior product manager in its product and engineering department and based in the U.S.

 
 
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