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24/7 Wall St. Most Overpaid CEO Of The Day: Pacific Sunwear (PSUN) CEO Sally Frame Kasaks
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According to the Pacific Sunwear proxy, CEO Sally Frame Kasaks makes a base salary of $1,250,000. Last year, her total compensation was $3.2 million.
Based on the performance of the stock and the business, those numbers are extraordinarily high. After posted flat revenue of $312 million for the last quarter, and operating income of only $3.7 million, Pacific Sunwear’s shares fell 31% today to just above $5.
The company has a 52-week high of $18.44. The stock is off over 60% during the last year.
Four firms downgraded PSUN today: Robert W. Baird, Friedman Billings, Roth Capital and BB&T Capital. The most significant cause of the ratings revisions was that the company dropped guidance for the third and fourth quarters.
The CEO’s pay stayed the same.
Douglas A. McIntyre
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