CEO pay watch: Regis' Finkelstein: $3.3 million
September 15, 2010 at 1:00AM
Paul Finkelstein, chairman, president, CEO Total compensation: $3,269,619 for the year ended June 30
Salary: $1,421,461
Non-equity incentive pay: $1,064,278
Other compensation: $191,644
Exercised stock options: $244,092
Value realized on vesting shares: $348,144
New stock options: 22,000
Total return to shareholders: -9.7 percent
Note: Hair salon giant Regis tweaked its executive compensation formula for fiscal 2010 by decreasing the annual incentive opportunity by 10 percent and increasing base salary of executives by 7 percent. For fiscal 2011, executive base salaries will increase by 2 percent.
Regis also changed its incentive targets from earnings per share to earnings before interest, taxes, depreciation and amortization (EBITDA) and other business goals that it believes will provide better incentives as it makes the transition from a growth company to a more mature company.
The new bonus program establishes a minimum EBITDA level the company must achieve before bonus will be awarded and also sets maximum, target and threshold levels for payouts. The company estimates that there's a 10 percent to 20 percent probability of achieving the maximum payout levels.
For fiscal 2010 Finkelstein's total compensation increased 31 percent, mainly from incentive pay that was $720,000 more than the previous year.
PATRICK KENNEDY
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