Companies Diamond Offshore Drilling, Inc
Diamond Offshore Drilling (DO): executive pay, fiscal 2023
Free brief. Every figure links to the company’s own filing.
Diamond Offshore Drilling, Inc no longer files a proxy statement; its last pay data is FY2023.
CEO pay, last three years
- $8,203,466FY2021
- $3,698,422FY2022
- $5,229,638FY2023
CEO total pay was $5,229,638 in fiscal 2023, up from $3,698,422 in fiscal 2022.
FY2023: salary $712,846 · bonus $0 · stock awards $3,823,480 · option awards $0
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Bernie Wolford Jr. | $712,846 | $0 | $3,823,480 | $0 | $657,656 | $0 | $35,656 | $5,229,638 |
| President and CEO President and CEO | ||||||||
| Dominic Savarino | 427,562 | 0 | 1,194,836 | 0 | 316,761 | 0 | 23,714 | 1,962,873 |
| Senior Vice President and CFO Senior Vice President and CFO | ||||||||
| David Roland | 417,946 | 0 | 929,318 | 0 | 315,203 | 0 | 24,340 | 1,686,807 |
| Senior Vice President, General Counsel and Secretary Senior Vice President, General Counsel and Secretary | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Bernie Wolford Jr. | $5,229,638 | $3,698,422 | $8,203,466 | ↑ +1,531,216 |
| Dominic Savarino | 1,962,873 | 1,461,603 | 2,121,743 | ↑ +501,270 |
| David Roland | 1,686,807 | 1,215,971 | 2,150,619 | ↑ +470,836 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The company seeks to attract and retain highly qualified executives by providing total compensation consistent with comparably-sized energy industry companies, motivate executives to achieve strong financial and operational performance, and structure compensation to create meaningful links between company and individual performance and financial rewards.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | LB&C |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2023
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| David Roland | RSU | 2023-01-18 | — | — | 28,749 | — | $326,014 |
| David Roland | PSU | 2023-01-18 | — | 43,124 | — | — | 904,957 |
| Dominic Savarino | RSU | 2023-01-18 | — | — | 36,963 | — | 419,160 |
| Dominic Savarino | PSU | 2023-01-18 | — | 55,445 | — | — | 1,163,513 |
| Bernie Wolford Jr. | RSU | 2023-01-18 | — | — | 118,282 | — | 1,341,318 |
| Bernie Wolford Jr. | PSU | 2023-01-18 | — | 177,424 | — | — | 3,723,243 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| David Roland | $326,014 | $904,957 | $0 | 73.5% |
| Dominic Savarino | 419,160 | 1,163,513 | 0 | 73.5% |
| Bernie Wolford Jr. | 1,341,318 | 3,723,243 | 0 | 73.5% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2023
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| David Roland | RSU | 66,025 | — | $858,325 |
| Dominic Savarino | RSU | 81,590 | — | 1,060,670 |
| David Roland | RSU | 133,353 | — | 1,733,589 |
| Dominic Savarino | RSU | 171,411 | — | 2,228,343 |
| Bernie Wolford Jr. | RSU | 196,718 | — | 2,557,334 |
| Bernie Wolford Jr. | RSU | 451,952 | — | 5,875,376 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Neal P. GoldmanIndependent · Board Chair · Lead Independent Director | $358,599 | $209,563 | — | — | — | $568,162 |
| Adam C. PeakesIndependent | 360,000 | 139,709 | — | — | — | 499,709 |
| John H. HollowellIndependent | 300,000 | 139,709 | — | — | — | 439,709 |
| Patrick Carey LoweIndependent | 290,000 | 139,709 | — | — | — | 429,709 |
| Benjamin C. Duster IVIndependent | 112,802 | 139,709 | — | — | — | 252,511 |
| Raj V. IyerIndependent · Departed during FY | 50,000 | 139,709 | — | — | — | 189,709 |
| Ane LaunyIndependent · Departed during FY | 43,188 | 139,709 | — | — | — | 182,897 |
| Patrice DouglasIndependent · Newly elected | 55,000 | 75,792 | — | — | — | 130,792 |
Board fee structure and ownership guideline
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $120,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 |
| Stock ownership guideline | $300,000 |
Total cost of the board
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $1,569,589 |
| Equity awards (grant-date value) | $1,123,609 |
| All other compensation | $0 |
| Total cost of the board | $2,693,198 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Diamond Offshore Drilling as a peer
Companies that benchmark against DO
1 company names DO as a compensation peer
- OIL STATES INTERNATIONAL, INCOISFY2025
Each company listed discloses DO in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named DO in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Diamond Offshore Drilling, Inc | 2023 | Bernie Wolford Jr. | $712,846 | $3,823,480 | $0 | $657,656 | $5,229,638 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 48 : 1 |
|---|---|
| CEO total compensation | $5,229,638 |
| Median employee compensation | $108,799 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (22 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Bernie Wolford Jr.. DEF 14A, filed 2024-03-28. Section “2023 Summary Compensation Table” · page 43. As printed: 5,229,638. View filing ↗
- Section 01, Dominic Savarino. DEF 14A, filed 2024-03-28. Section “2023 Summary Compensation Table” · page 43. As printed: 1,962,873. View filing ↗
- Section 01, David Roland. DEF 14A, filed 2024-03-28. Section “2023 Summary Compensation Table” · page 43. As printed: 1,686,807. View filing ↗
- Section 03, David Roland RSU. DEF 14A, filed 2024-03-28. Section “2023 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, David Roland PSU. DEF 14A, filed 2024-03-28. Section “2023 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Dominic Savarino RSU. DEF 14A, filed 2024-03-28. Section “2023 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Dominic Savarino PSU. DEF 14A, filed 2024-03-28. Section “2023 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bernie Wolford Jr. RSU. DEF 14A, filed 2024-03-28. Section “2023 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bernie Wolford Jr. PSU. DEF 14A, filed 2024-03-28. Section “2023 Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2024-03-28. Section “CEO Pay Ratio”. As printed: 48 : 1. View filing ↗
- Section 08, Neal P. Goldman. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 568,162. View filing ↗
- Section 08, Adam C. Peakes. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 499,709. View filing ↗
- Section 08, John H. Hollowell. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 439,709. View filing ↗
- Section 08, Patrick Carey Lowe. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 429,709. View filing ↗
- Section 08, Benjamin C. Duster IV. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 252,511. View filing ↗
- Section 08, Raj V. Iyer. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 189,709. View filing ↗
- Section 08, Ane Launy. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 182,897. View filing ↗
- Section 08, Patrice Douglas. DEF 14A, filed 2024-03-28. Section “Director Compensation”. As printed: 130,792. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 1,569,589 + equity 1,123,609 + all other 0 = 2,693,198, summed across the director compensation table rows.
- Diamond Offshore Drilling, Inc (subject), Section 10b CEO total. DEF 14A, filed 2024-03-28. CEO total compensation as printed in Diamond Offshore Drilling, Inc's own proxy. As printed: 5,229,638. View filing ↗