Who’s really cashing in at the top? Business in Vancouver recently unveiled its annual list of B.C.’s highest-paid executives and the numbers tell a striking story. Total compensation isn’t being driven by hefty salaries. Instead, it’s equity awards and stock options that are taking executives to multi-million-dollar payouts.

Take Telus CEO Darren Entwistle, for example, he pulled in around $20.6 million last year, thanks mostly to share-based compensation. Our partner, Barry Cook, points out that this trend is particularly notable given Telus’s presence in the traditionally predictable utilities sector. Despite a relatively flat share price over the past decade, Telus continues to reward its leadership in stock—paired with an attractive 7.5% dividend.

This dynamic reflects a broader shift: public companies, even those in stable sectors, are relying more on long-term incentives like equity to align executive interests with shareholder value.