Did the Linde CEO Get a Raise?
No — pay was essentially flat. Sanjiv Lamba's total compensation was essentially unchanged at $12.0M in 2022, from $12.0M in 2021, per Linde's SEC DEF 14A filings.
This page answers a common executive-compensation question: Did the Linde CEO Get a Raise?. The answer draws on SEC DEF 14A proxy statements, the public disclosure mechanism for U.S. public-company executive pay. Every public company must file an annual proxy statement disclosing CEO and named-executive-officer compensation in detail. Why this matters for shareholders: executive compensation is the single most-disclosed governance metric at U.S. public companies, and the Dodd-Frank-mandated say-on-pay vote gives shareholders an explicit channel to express approval or dissent. Reading pay data well — including pay-versus-performance, peer-group selection, and time-vesting structures — is a basic part of stock-by-stock fundamental analysis.
The detailed answer below uses the actual proxy-statement filings, explains how to read them, and translates the executive-compensation accounting into the shareholder-relevant interpretation.
Sanjiv Lamba Pay: 2021 → 2022
- 2022 total comp
- $12,000,000
- 2021 total comp
- $12,000,000
- Change ($)
- +$0
- Change (%)
- +0%
Source: Linde SEC DEF 14A proxy statements, 2021 and 2022 Summary Compensation Tables.
In its latest proxy statement, Linde reported Sanjiv Lamba's 2022 total compensation at $12,000,000 — essentially flat versus $12,000,000 in 2021.
Across the disclosed history, Sanjiv Lamba's total pay has run: 2019, $12.0M; 2020, $12.0M; 2021, $12.0M; 2022, $12.0M. CEO compensation is lumpy year to year because equity grants — the largest component — are often awarded in multi-year blocks rather than evenly, so a single year's jump or drop can reflect grant timing as much as a change in pay philosophy.
Whether a raise is warranted ties back to performance: Linde posted a 4.4% three-year total shareholder return on 1.7% revenue growth, and the package carries a CEOPay Pay-for-Performance grade of C (62/100).
Compensation Detail
| Component | Amount |
|---|---|
| Total Compensation | $12,000,000 |
| Base Salary | $1,200,000 |
| Stock Awards | $6,000,000 |
| Option Awards | $1,440,000 |
| Non-Equity Incentive | $1,800,000 |
| CEO-to-Worker Pay Ratio | 171:1 |
| Pay-Performance Grade | C |
Other Industrial Gases CEOs
Frequently Asked Questions
No — pay was essentially flat. Sanjiv Lamba's total compensation was essentially unchanged at $12.0M in 2022, from $12.0M in 2021, per Linde's SEC DEF 14A filings.
Sanjiv Lamba, CEO of Linde, earned $12.0M in total compensation in 2022, including $6.0M in stock awards and $1,200,000 in base salary.
In 2022, total compensation of $12,000,000 was composed of $1,200,000 base salary, $0 cash bonus, $6,000,000 stock awards, $1,440,000 option awards, and $1,800,000 in non-equity incentive compensation.
Our Pay-for-Performance Score rates Linde as C (62/100), based on three-year total shareholder return of 4.4%, revenue growth of 1.7%, and shareholder say-on-pay vote approval.
Sanjiv Lamba is the chief executive officer of Linde (LIN).
More about Linde
No — pay was essentially flat. Sanjiv Lamba's total compensation was essentially unchanged at $12.0M in 2022, from $12.0M in 2021, per Linde's SEC DEF 14A filings.
Source: SEC EDGAR DEF 14A proxy statements, 2026.