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Emerson Chief Executive David Farr was rewarded with nearly $11 million in performance shares last year, bringing his total pay to $15.6 million.

That's a 24 percent increase from fiscal 2017, Emerson's proxy statement shows.

Farr's pay is 425 times what a median employee earns, Emerson disclosed for the first time. That is the highest pay ratio reported so far by a St. Louis company, topping Centene's ratio of 379.

Emerson estimated that its 76,726 employees earn a median of $36,791.

Emerson issued a statement Monday noting that 91 percent of Farr's pay was tied to performance. It said his compensation "reflects the responsibilities of running a global company and the 18 years of experience and leadership as CEO in developing and executing strategies that have contributed to the strong financial performance of the company over the past year."