CEO pay watch: Graco's McHale: $776,000

Updated: March 11, 2010 - 6:46 PM

Patrick McHale

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GRACO INC.

Patrick McHale, president, CEO

Total compensation: $776,741 for the year ended Dec. 31

Salary: $641,700

Non-equity incentive pay: $0

Other compensation: $11,854

Exercised stock options: $123,187

New stock options: 225,000

Total return to shareholders: 24.3 percent

Note: In 2009 Graco sales dropped 29 percent to $579 million and earnings fell nearly 60 percent to $49 million as Graco and other industrial companies were hit hard by the recession. In December 2008 and March 2009 Graco made layoffs and cut costs as demand dropped for its fluid-handling products.

For 2009 McHale qualified for a bonus of $81,228. But with employees having already made sacrifices, he declined to accept the award. McHale also requested, and the compensation committee approved, no increase to his base salary for 2010.

PATRICK KENNEDY