Home » Safeway Board Says CEO Burd Is Underpaid At $11.4M
Retiring Safeway CEO Steven Burd is not paid as well as his peers in the retail industry, even though he took home $11.4 million in 2012 and $11.5 million in 2011, according to the Pleasanton, Calif.-based company’s executive compensation committee.
The San Francisco Business Times reports that Safeway’s audit committee—the members of the board of directors who oversee executive pay—said that in 2011 Burd’s pay of $11.5 million “was at or near the bottom half of our compensation peer group in most categories.”
Though Burd’s salary was the same in 2012 as in 2011—$1.5 million—his total compensation for the year fell slightly to $11,343,479, according to the grocery company’s proxy card.
In 2011, Burd’s total compensation at Safeway was $11,498,595. He’s retiring from the company May 13.
Safeway paid Burd a bonus of $1,265,025 in 2012. That was 85 percent of the target bonus.
The pay conclusion came from comparing Burd’s 2011 pay to that of executives at similar companies like The Kroger Co., Home Depot Inc., Gap Inc., Target Corp., J.C. Penney Co., Walgreen Co. and McDonald’s Corp., among others.
In 2011, Kroger CEO David Dillon’s salary was $1,273,871, lower than Burd’s, but his total compensation for the year was $12,024,543, which was $525,948 more than Burd’s, the Times reports.
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As Chief Executive Officer at Albertsons Companies, Inc., Vivek Sankaran made $8,639,520 in total compensation. Of this total $1,500,000 was received as a salary, $7,000,000 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $139,520 came from other types of compensation. This information is according to proxy statements filed for the 2021 fiscal year.
The chart on this page features a breakdown of the total annual pay for Vivek Sankaran, Chief Executive Officer at Albertsons Companies, Inc. as reported in their proxy statements.
Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Albertsons Companies, Inc. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Albertsons Companies, Inc. annual reports of executive compensation and pay are most commonly found in the Def 14a documents.
Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year.
Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings.
For its 2021 fiscal year, Albertsons Companies, Inc., listed the following CEO pay ratio data on its annual proxy statement to the SEC.
| Vivek Sankaran | CEO Pay $8,639,520 | Median Employee Pay $31,781 | CEO Pay Ratio 272:1 |
This report is not for commercial use. Thorough reviews have been conducted to assure this data accurately reflects disclosures. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement.
The information shown here is a reporting of information included in the company's proxy statement. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). You may also find the annual proxy statement by going directly to the company's website.
A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. All proxy statements are public filings made available to the general public by the SEC. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives.
Benefits information is taken from job posted on Indeed.
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Learn more about benefitsAverage Safeway Founder and CEO yearly pay in the United States is approximately $36,437, which is 51% below the national average.
Salary information comes from 1 data point collected directly from employees, users, and past and present job advertisements on Indeed in the past 24 months.
Please note that all salary figures are approximations based upon third party submissions to Indeed. These figures are given to the Indeed users for the purpose of generalized comparison only. Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures.
Agency Owner$129,883 per year
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