A shareholder activist group is now up in arms over the fat paycheck that will be awarded to Paddy Power Chief Executive Andy McCue, The Irish Times reported.

“Excessive” was how Pensions & Investment Research Consultants (PIRC) described the expected  total €3.7 million 2015 pay that McCue will receive after the latter has decided to step down as the chief operating officer of the merged online betting firm.

McCue, credited for being the architect of Paddy Power’s £5 billion merger with Betfair, is reported to get a hefty pay package, which is broken down into the following: €700,000 salary, €536,000 bonus, €173,000 in pension and benefits and €2.312 million in shares, which the report valued at €111.44 each.

PIRC is convinced that the pay package of McCue, which is 406 percent of his salary, is exorbitant and that Paddy Power stakeholders should reject it.