CEO PAY WATCH: HORMEL FOODS CORP.

Total compensation: $4,315,113 for the year ended Oct. 31

Salary: $1,000,220

Bonus: $300

Non-equity incentive pay: $3,255,144

Other compensation: $59,449

New stock options: 700,000

Total fiscal 2012 return to shareholders: 2.3 percent

Note: For the first time, Ettinger's base salary exceeded $1 million, but it is the second year in a row that his annual incentive compensation went down. That contributed to a 14 percent decrease in total compensation for the year.

PATRICK KENNEDY