CEO Pay Watch: Sally Smith of Buffalo Wild Wings
- April 8, 2013 - 7:25 PM
Sally Smith, president & CEO
Total compensation: $3,527,288 for the year ended Dec. 31
Non-equity incentive pay: $671,735
Other compensation: $139,755
Exercised stock options: $638,761
Value realized on vesting shares: $1,442,037
New stock options: 7,799
Total 2012 return to shareholders: 7.8 percent
Note: Even though Smith got a 8.5 increase in her base salary last year, her total compensation was down 14.5 percent from 2011. She gained a little more in 2012 from options she exercised during the year but realized $1.4 million from restricted stock awards in 2012, down from $2.2 million in 2011.
Smith’s annual bonus decreased 2.2 percent from 2011. While the company achieved revenue targets for the year and showed same-store sales growth in each of the four quarters, it did not meet goals for operating income and the number of new stores it had planned to open.
Buffalo Wild Wings also recorded an expense of $1,952,447 for stock awards and $317,497 for option awards as part of Smith’s long-term equity incentive compensation for 2012. The value of those awards was greater than in past years and reflects a special one-time restricted stock unit award valued at $1 million that was given to Smith on March 12, 2012. Two other senior executives, CFO Mary Twinem and COO James Schmidt, received similar awards valued at $250,000 each. “The purpose of these special awards was to serve as an additional retention tool for these key executives,” the company said.
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