According to a July 27, 2018, report in the Atlanta Business Chronicle, AGCO approved a one-time award of 144,611 restricted stock to Martin Richenhagen, the company’s chairman, president & CEO.

The award is “to encourage him to delay his retirement until the end of 2020 and, in the interim, to oversee an orderly succession process, the integration of recent acquisitions, the launch of new products and the execution of near-term strategic milestones.”

The stock award is said to be worth nearly $9 million. You can read the full report here.