By  on April 23, 2010

Saks Inc.’s comeback from the depths of the recession paid off handsomely for its chief executive officer, Stephen I. Sadove, who saw his 2009 compensation package grow more than 20 percent.

Sadove earned a total of $6.7 million last year, 20.3 percent above his 2008 take of $5.5 million as a twelvefold increase in his nonequity compensation more than offset a 52.7 percent cut in his stock and option awards, to a total of $1.9 million, according to the preliminary proxy filed with the Securities and Exchange Commission Thursday. Because of vesting schedules and fluctuating stock prices, stock and option awards aren’t necessarily realized by the executives eligible for them, but it is required they be reported to the SEC.

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