CEOs at many companies are earning a greater proportion of their compensation in the form of stock, but they're still getting more cash than ever, according to a new study.

A report by the Conference Board found that the compensation mix for top executives has been reallocated more toward stock across almost all industries and away from total cash compensation and stock options. However, while cash may be losing share, the median CEO still earns more of it. Median cash compensation increased in more than two-thirds of the industries studied, as did total compensation overall.

The industry that has been the largest median gainer in cash compensation is insurance (up by 34.39 percent to $1,227,371). The only notable negative among various industries is construction, an outlier showing a 22.36 percent decrease.

Food and tobacco executives are the top earners. Among the 22 industries represented, food and tobacco together show the highest median CEO total compensation. They top the list with $6.34 million in median total compensation, and $2.7 million in median total cash compensation, followed by utilities, insurance and non-banking financial services.

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