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Principal Financial executives see incentive pay increases after strong 2021 profits


Des Moines Register: A big year at Principal Financial Group meant big pay bumps for its executives. According to an April 4 proxy statement, the leadership team of the Des Moines-based financial services company received seven-figure increases in their incentive pay in 2021. The extra money came as Principal exceeded its board’s earnings target for the year. The company last year gave CEO Dan Houston $6.1 million in incentive pay, part of his annual compensation package that rises and falls as Principal’s operating earnings shift. His 2021 incentive pay was more than double the $2.7 million he received in 2020. Principal Global Asset Management President Pat Halter’s incentive pay increased to $4.1 million from $1.6 million. Chief Financial Officer Deanna Strable-Soethout saw an increase to $2.2 million from $800,000.

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