PHILADELPHIA (AP) - The Pep Boys -- Manny, Moe & Jack gave its former chief
executive a compensation package worth $17.2 million for just over nine months
of work in 2007, according to a Securities and Exchange Commission filing
Friday.
Jeffrey Rachor, an executive hired from Sonic Automotive Inc. in March 2007,
received a salary of $1.04 million and a bonus of $1.2 million. He left Pep Boys
last month.
He also got nonequity incentive plan compensation of $1.8 million and other
perks worth $743,068, mostly retirement benefits and company matches to deferred
compensation.
Rachor, who resigned to join a luxury car dealership venture backed by Dell
Inc. founder Michael Dell, was given stock and option awards worth $12.43
million on the date they were granted.
The Associated Press calculations of total pay include executives' salary,
bonus, incentives, perks, above-market returns on deferred compensation and the
estimated value of stock options and awards granted during the year.
Shares of Pep Boys rose 10 cents to $9 in midday trading.
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