Milford medical device maker Waters Corp. has awarded a performance bonus worth up to $1.5 million to President and CEO Christopher O’Connell.
The company announced Thursday O’Connell and two other executives were granted performance stock units at the board of directors’ Dec. 9 meeting. The executive’s ability to use all or a portion of the shares is contingent on the company’s shareholders total return compared to other companies in the S&P 500 Health Care Index.
O’Connell received 10,752 stock units, which based on the company stock price of $139 per share on Friday morning, would be equivalent to $1.5 million.
The other two executives who received performance stock units were General Counsel Mark Beaudouin, who received 2,365 shares (about $330,000) and Senior Vice President Elizabeth Rae, who received 2,150 shares (about $300,000).
