After becoming CEO in November 2016, Snee saw his total compensation rise 40.3 percent compared with the previous year.
![Jim Snee, Hormel's chief executive, shared a laugh with a shareholder outside the company's annual meeting Tuesday. ] Credit: Kristen Painter / Star Tribune](https://arc.stimg.co/startribunemedia/PPM6ISEM4OYDQYQKYTISRY2UYQ.jpg?&w=1080)
Total compensation: $3,114,003 for the year ended Oct. 31
Salary: $849,940
Bonus: $400
Nonequity incentive pay: $2,108,771
Other compensation: $144,097
Exercised stock options: $10,795
New stock options: 277,400
Total fiscal 2017 shareholder return: -17.4 percent
Note: Snee became chairman, president and CEO effective Nov. 20, 2016. His total compensation rose 40.3 percent compared with the previous year as his salary and potential bonus increased to reflect his new roles.
Snee earned a 26 percent larger cash performance bonus — his nonequity incentive pay — than the prior year while other executives earned smaller bonuses than the previous year as the company fell short of the earnings incentive targets for the year.
In his first year in charge, Snee completed several large acquisitions including the addition of the premium Columbus brand of craft deli meats, a meat products company in Brazil, and the Fontanini brand of Italian meats and sausages. Hormel also sold Clougherty Packing, maker of Farmer John hot dogs and other products.
The new rule, which goes into effect March 1, says only firms owned by citizens or U.S. nationals will qualify for Small Business Administration loans.
