ConAgra CEO received $10.1 million pay package

[Joanne98]

Source: AP


The chief executive of ConAgra Foods Inc. received a nearly 27 percent boost in compensation in 2009 in a package worth $10.1 million, according to an Associated Press calculation of figures filed with regulators. Most of it came in stock options and restricted stock that haven't vested.

The increase for CEO Gary Rodkin came after he received a 41 percent pay cut in 2008. Revenue rose 5 percent this year as the company benefited from its focus on packaged food products and consumers eating more at home because of the recession.

According to filings with the Securities and Exchange Commission on Wednesday, Rodkin received salary worth a little more than $1 million, on par with last year, and $1.1 million in incentive compensation, lower than the $1.8 million he received last year.

Rodkin's pay package included restricted stock and options in fiscal 2009 that were valued by the company at $7.8 million the day they were granted. The options, valued at $1.4 million, have an exercise price of $21.26 a share, while ConAgra's share price — along with the overall stock market — has fallen since the options were granted last summer. Shares rose 5 cents to close at $19.65 on Wednesday.

The restricted stock, valued at about $6.4 million, is a performance share grant for the fiscal 2009-2011 period that can't be paid until after fiscal 2011.



Read more: http://sify.com/finance/fullstory.php?a=jinpEhceabd&title=ConAgra_CEO_received_%2410.1_million_pay_package

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ConAgra is refusing to pull their ads off the Glen Beck Show.

[BumRushDaShow]

1. Meanwhile

they have had plant explosions killing workers and endless food recalls (ground beef, chicken, pot pies, peanut butter, and on and on).