ConAgra Foods Inc. (CAG) Chief Executive Gary Rodkin received total compensation in fiscal 2012 valued at $10.3 million, a 20.7% increase from the prior year as his annual performance-based bonus more than tripled as results improved at the food company.
Rodkin's pay for the fiscal year ended May 27 included a $1 million base salary, unchanged from the prior year, and $4.2 million in stock and option awards, up from around $3.8 million.
The change in pension value and non-qualified deferred compensation earnings totaled $3.4 million, up from $3.1 million.
The biggest boost came in performance-based pay, where Rodkin received $1.6 million, up from $440,000 in the prior year. The payout was 78% of the target, up from 22% in the prior year.
ConAgra continued to struggle with higher commodity costs over the last year and had to raise prices to offset the impact. That led to weak performance...
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Source: Argentine Beef Packers S.A.
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