CEO Pay Watch Regis Corp.
Dan Hanrahan, president, CEO
Total compensation: $2,962,070 for the year ended June 30
Non-equity incentive pay: $1,755,994
Other compensation: $46,746
Value realized on vesting shares: $277,330
New stock options: 498,499
Total fiscal 2015 shareholder return: 11.9 percent
Note: Hanrahan earned his first incentive bonus since being hired in July 2012 to lead a turnaround of the Edina-based hair salon franchisor. Executive bonuses were based on adjusted earnings before interest, taxes, depreciation and amortization, less some capital expenditures, and on same-store sales.
Regis exceeded maximum targets for earnings but not on the other measures as same-store sales for the fiscal year declined 0.3 percent.
Hanrahan’s base salary rate has remained the same since he was hired, but the $1.8 million bonus for fiscal 2015 helped his total compensation increase more than 170 percent from the previous year.
In January the compensation committee of Regis’ board of directors elected to give Hanrahan additional long-term equity awards to “ensure that Mr. Hanrahan remains incentivized to stay with the company and continue the initiatives that are underway.”
In the company’s year-end earnings release, Hanrahan said fiscal 2015 was the year they stabilized the business and pledged confidence in his strategies going forward. Sales of $1.8 billion fell 2.9 percent compared to fiscal 2014 and the company lost $33.8 million for the year.