Total compensation: $4,925,826 for the year ended March 31
Salary: $593,703
Non-equity incentive pay: $776,111
Other compensation: $18,316
Exercised stock options: $3,391,919
Value realized on vesting shares: $145,777
New stock options: 26,761
Total fiscal 2013 return to shareholders: 2.0 percent
Note: Jordan's total compensation increased 138 percent from the previous year. The biggest increase in his compensation was from $3.4 million in previously issued stock options that he exercised last year and $145,777 in restricted shares that vested during the year. In the previous year he earned $864,178 from stock options and restricted shares that were exercised or had vested.
Last June, Jordan got a 13.6 percent increase in his base salary rate from $550,000 per year to $625,000 per year. This month, Jordan got a 3 percent increase to his salary.
The company's annual incentive pay is based on net income and net sales figures. Jordan earned a cash bonus of $776,111, which was up 17.6 percent from the previous year, as the company exceeded its incentive targets for the year.
A key compensation feature for Arctic Cat executive officers is the use of one company ATV, one ROV (recreation off-highway vehicle) and two snowmobiles each year. (Those machines are returned each year and sold by the company.)
Arctic Cat's sales increased 15 percent to $671.6 million. Earnings per share set a record: $2.89 per share, up 68 percent from the previous year.
The company also recorded an expense of $187,509 for stock awards and $635,306 for option awards as part of Jordan's long-term equity compensation for the year.
Patrick Kennedy
Minneapolis-based Hennepin Healthcare says it also will suspend contributions to some worker retirement plans while pausing $24 million in capital projects.
