G&K Services Inc.
Douglas Milroy, CEO
Total compensation: $2,565,403 for the year ended June 30, 2013
Salary: $625,020
Non-equity incentive pay: $1,025,583
Other compensation: $171,305
Value realized on vesting shares: $743,495
New stock options: 76,070
Total fiscal 2013 return to shareholders: 55.9 percent
Note: Milroy took home $2.6 million in the last fiscal year from the provider of uniform and other facility services; that was a 9.3 percent increase over the previous year. Milroy's salary increased approximately 2 percent but he got his biggest increase from an annual performance bonus, which went up by $374,000, and his restricted shares that vested during the year, which increased by nearly $287,000.
The company also recorded an expense of $3,657,283 for stock awards and $487,609 for option awards as part of Milroy's long-term incentive compensation. In August 2012, G&K's board granted Milroy an award of performance-based restricted stock containing financial performance and service components. The performance award has a range of 50,000 to 150,000 restricted shares and depends on achievement of financial performance goals and service conditions.
The financial performance goals are based on return on invested capital and will be determined at the end of G&K's 2015 fiscal year.
Patrick Kennedy
