Portland, Ore. Supervalu chairman and CEO Jeffrey Noddle received compensation valued at $4.1 million in fiscal 2009, down 22% from a year earlier. Meanwhile, the value of his salary, stock options and other perks grew, according to an Associated Press analysis of a regulatory filing.
The value of Noddle's pay package fell to $4.1 million for 2009, from roughly $5.3 million in the prior fiscal year. However, Noddle's 2009 base salary rose 2.9% to $1.2 million. His package also included stock options valued at $2.9 million at the time they were granted, up from $2.7 million a year earlier. Perks included in his compensation increased 12% to $83,199. Among these perks were $26,148 for use of the company aircraft and more than $3,000 for an executive physical.
Noddle and other top executives did not receive an annual cash bonus because the company did not meet a series of performance-based goals for the year. In 2008, he received a performance-based bonus of $1.3 million.