According the Saint Louis Dispatch...
Panera Bread Chief Executive Ronald Shaich voluntarily skipped his annual bonus last year, causing his total pay to fall 39 percent to $2.7 million. Shaich and Moreton "elected to forgo any incentive bonus payment for 2013 in order to increase the bonus pool available to the Company’s executive officers and other eligible associates," the document says.
Other top executives received bonuses equal to 65 percent of their target level, but they would have received just 16 percent if Panera had strictly followed its bonus formula. The compensation committee says it adjusted the bonuses upward because Panera "undertook significant investments during 2013 that impacted its financial results."
I've been thinking of selling due to poor service and upkeep at Burlington, VT area Panera, but this is a good reason to wait for April 29th Q4 results.
Panera Bread Chief Executive Ronald Shaich voluntarily skipped his annual bonus last year, causing his total pay to fall 39 percent to $2.7 million. Shaich and Moreton "elected to forgo any incentive bonus payment for 2013 in order to increase the bonus pool available to the Company’s executive officers and other eligible associates," the document says.
Other top executives received bonuses equal to 65 percent of their target level, but they would have received just 16 percent if Panera had strictly followed its bonus formula. The compensation committee says it adjusted the bonuses upward because Panera "undertook significant investments during 2013 that impacted its financial results."
I've been thinking of selling due to poor service and upkeep at Burlington, VT area Panera, but this is a good reason to wait for April 29th Q4 results.
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