Rick Smith, CEO and cofounder of Axon Enterprise, topped the list of best-paid CEOs last year, taking home almost $165 million in compensation, largely in stock awards.
Axon stock has surged over 700% in the past five years, valuing the company at about $60 billion.
Smith's compensation exceeded that of CEOs from better-known S&P 500 companies like Starbucks and Apple, with Brian Niccol of Starbucks standing second on the list with stock awards worth about $90 million.
A study by Equilar and The Associated Press reported a 12.6% year-on-year rise in CEO pay in the S&P 500 in 2023.