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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: edamo who wrote (36309)	4/26/2001 12:14:05 PM
From: stockman_scott	Read Replies (1) \| Respond to of 65232

edamo: The CEO of KREM has been richly rewarded... ____________________________________________________ 2000 pay for Krispy Kreme CEO 36 pct sweeter <<WASHINGTON, April 17 (Reuters) - Krispy Kreme Doughnuts Inc.(NASDAQ:KREM), the popular doughnut shop chain whose shares made one of the hottest initial public offerings in 2000, sweetened its top executive's compensation by 36 percent last year. Scott Livengood, the company's chairman, president and chief executive, was paid a salary and bonus totaling $1,061,045 in 2000, up from his earnings of $782,785 in the previous year. The company said in a proxy statement filed Monday with the U.S. Securities and Exchange Commission that last year was successful and it had benefited from Livengood's leadership. "The compensation committee made its decision based upon the significant value created by Mr. Livengood's leadership, our strong balance sheet for fiscal 2000 and other successful business indicators," the company said of his salary increase. Excluding stock options, his total compensation package last year was $1,296,712, up 24 percent from his 1999 package of $1,046,965, which included no stock options. Last year, he was also awarded long-term compensation in the form of stock options, which according to the Krispy Kreme's estimates, could be worth $532,186 if its stock were to appreciate 10 percent annually over the lifetime of the options. Shares of the Winston-Salem, N.C.-based company, which operates about 170 stores in 28 states selling doughnuts, buns, fruit pies and its own brand of coffee, debuted last April, pricing at $21 each and rising to close the first day of trading at $37. They have traded as high as $54.25 and as low as $17.58 over the past 52 weeks. On Tuesday, they were up 97 cents at $37.07 in mid-day trading on Nasdaq, which is home to other food companies such as California Pizza Kitchen Inc. (NASDAQ:CPKI) In February Krispy Kreme declared a 2-for-1 stock split in the form of a stock dividend in March to shareholders. The company's net income for fiscal 2000 rose to $14.7 million, or $1.10 per share, from $6 million, or 60 cents per share, in the previous year. Options he was granted are for 45,400 shares of the company's stock with exercise share prices ranging from $10.50 to $33.38. They expire in 2010.>>