Total compensation: $1,087,688 for the year ended in June
Salary: $882,000
Bonus: $0
Other compensation: $73,105
Value realized on vesting shares: $132,583
New stock options: 149,501
Total shareholder return: –13.5 percent
Note: Hanrahan's total compensation is down from $2.1 million last year when he got a guaranteed bonus under his initial employment agreement.
In August 2012 Hanrahan was brought in from Royal Caribbean Cruises to turn around the Edina-based operator of hair salons.
Hanrahan didn't get a salary increase or performance bonus last year.
The Regis board's compensation committee set incentive targets to "reward executive officers for success in stabilizing revenue, while assuring a minimum level of profitability," the proxy said. Adjusted earnings, while positive, fell below the threshold and same-store sales saw a 4.8 percent decline during the year.
This was the second year that top management didn't earn performance-based bonuses. Hanrahan successfully sought discretionary bonuses from the committee for other managers, but not himself, saying they laid the groundwork for future success.
Patrick Kennedy
The state budget got done, but not without some real drama.
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