Rite Aid execs pay jumped sharply

Total pay for Rite Aid Corp.’s (>> Rite Aid Corporation) top executives jumped sharply higher in fiscal 2012 due to long-term cash incentive units that vested after the company reached adjusted earnings targets for the past three years. In a separate press release, Rite Aid disclosed Friday that the company’s board elected President and Chief Executive John Standley to the additional position of chairman, effective next month.

This was posted today… Imagine a company whose stock price closed today at $1.30… up from a 52 week low of $0.85 (52 wk high $2.12).. For those of you who are not familiar with the stock market.. any stock that has a price <$5/share.. is considered a “penny stock” and the corporation is usually given the option to be de-listed or do a reverse stock split to get their stock price above $5.00…  Rite Aid’s stock broke the $5/share barrier in SEPTEMBER 2007.. ALMOST FIVE YEARS AGO…

I guess whatever bonus triggers that were put in place by the BOD of Rite Aid were pretty low…

How about those employees of Rite Aid.. how much has your pay rate gone up recently?

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