CEO pay watch: Navarre's Deacon

Updated: July 28, 2010 - 9:53 PM

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CEO PAY WATCH NAVARRE CORP.

Cary Deacon, CEO

Total compensation: $1,336,926 for the year ended March 31

Salary: $475,000

Non-equity incentive pay: $570,000

Other compensation: $28,125

Value realized on vesting shares: $263,801

New stock options: 200,000

Total 2010 return to shareholders: 372.2 percent

Note: Navarre, a publisher and distributor of computer software, home entertainment media and related products, did not give Deacon a raise last August as it continued to control costs. Deacon earned a maximum $570,000 bonus last year by exceeding the company's EBITDA target; he had no bonus in the previous two years.

The bonus and greater value from the vesting of restricted stock awards were the chief reasons Deacon's total compensation for fiscal 2010 rose nearly 150 percent compared with last year.

For fiscal 2011 the company will add a sales target to its bonus formula in order to refocus on achieving revenue growth after controlling costs and improving profit margin in 2010.

The company's stock price had an impressive return during the year, rebounding from a low of 40 cents per share in April 2009 to $2.08 per share on March 31. The stock closed Wednesday at $2.63.

PATRICK KENNEDY