MARK BAKER, CHAIRMAN & CEO, GANDER MOUNTAIN
Total compensation: $1,292,410 for the year ended Jan. 31
Salary: $196,154
Non-equity incentive pay: $767,995
Other compensation: $112,771
Exercised stock options: $215,490
New stock options: 90,000
Total return to shareholders: -51.6 percent
Note: Baker's total compensation went up 34 percent over last year, despite the company losing $31 million and the stock price being halved. The company ditched a new compensation plan it installed midway through the year that was heavy on incentive pay and cut base salary. Baker's base salary was to go to zero and his incentive compensation was to be a fraction of initial margin for each fiscal month as reflected in Gander Mountain's internal financial statements. The new incentive plan was terminated by the compensation committee on the first day of fiscal 2008 and a new incentive plan based on pretax income was put in place. Baker's annual salary for 2008 was reset to $650,000.
