Grobe, who is 58-50 in eight-plus seasons, had $4.2 million in compensation during the 2007-08 fiscal year, according to USA Today.
Because Wake Forest is a private school, the newspaper had to obtain the compensation figure from IRS documents. Private universities must note their five highest-paid employees on certain tax documents.
The revelation put Wake Forest officials in damage control.
Athletic director Ron Wellman said Grobe's compensation — more than twice what was previously reported — was misleading because it included a deferred compensation package that vested that year and was reported for the first time. He also noted that the coach's contract was restructured and the figure included back pay.