Canopy Growth Corp. executives have struck it rich as their total compensation surged to $28.5 million last year including the first months since cannabis was legalized in October. Then-co-CEO Bruce Linton welcomes media to a new visitor centre at Canopy Growth's Tweed facility in Smiths Falls, Ont., Thursday, Aug. 23, 2018. THE CANADIAN PRESS/Sean Kilpatrick
Canopy Growth executives compensation surges following cannabis legalization
SMITHS FALLS, Ont. — Canopy Growth executives have struck it rich as their total compensation surged to $28.5 million last year including the first months since cannabis was legalized in October.
Nearly 90 per cent of the payout to the six top officials was in the form of option-based awards, the Smiths Falls, Ont., company said in a regulatory filing.
Bruce Linton, who was ousted as co-CEO earlier this year, received $9.33 million in the fiscal year ended March 31, up from $2.52 million a year earlier. It included $8.56 million in option-based awards, a $450,000 bonus, $318,000 salary and $3,568 in other compensation for Canopy Growth executives.
Linton also received a $1.5-million payout after being terminated without cause as of July 2.
CEO Mark Zekulin, who was previously president and co-CEO, received $5.96 million in compensation last year, including $5.2 million in options, a $500,000 salary and a $250,000 bonus. That was up from almost $2.5 million in fiscal 2018.
The other Canopy Growth executives each received between $2.4 million and $5.93 million.