SAKS COMPENSATION: Both Saks Inc.’s chief executive officer Stephen I. Sadove and president and chief merchandising officer Ronald L. Frasch saw their total compensation fall in 2012 from 2011, mostly due to a decline in non-equity incentive plan compensation. That portion of Sadove’s pay fell 40.3 percent, while that part of Frasch’s declined 43.1 percent, according to the retailer’s proxy filed with the Securities and Exchange Commission.
Sadove saw his total compensation fall 4.1 percent in 2012 to $6.8 million from 2011’s $7.1 million. Sadove’s compensation in 2012 consisted of $1 million in base salary, plus $3.6 million in stock awards, $2 million for non-equity incentive plan compensation and $109,174 in other compensation. Other compensation could include use of a company car, long-term disability insurance premiums and financial and tax-planning services.
This story first appeared in the April 29, 2013 issue of WWD. Subscribe Today.
Frasch saw a 14.7 percent decline in his total compensation to $2.8 million from $3.3 million in 2011. His total compensation in 2012 consisted of $1 million in base salary, $865,331 in stock awards, $852,096 for non-equity incentive plan compensation and $74,098 in other compensation.