| Small & micro cap project / Activism insight
CEOs who took a base salary cut during the current coronavirus pandemic
We have compiled the list of all CEOs who agreed to reduce their base salary from March 1st 2020.
As per our research, BlueLinx Holdings Inc. is the first company with a market cap of less than $2 billion* to announce the voluntary reduction of base salary of its CEO amidst Covid-19 crisis. On March 23, 2019, BlueLinx Holdings’ CEO announced that he would be voluntarily reducing his annual base salary of $850,000 to a monthly salary of $1 for a period of six months, beginning April 1, 2020.
Kudos to accountability!
There is an exception – Heritage Commerce Corp.
Even though the bank’s stock price crashed by over 35% in the past month, the company’s board increased the base salary of its CEO by 10%.
Here is the list of CEOs who took a pay cut (till April 2 2020)
Company Name | Ticker | Base salary cut | Mcap ($, mm) | Revenue ($,mm) |
BlueLinx Holdings, Inc. | BXC | $1 | 52 | 613 |
Pebblebrook Hotel Trust | PEB | 100% | 1300 | 392 |
Liquidity Services, Inc. | LQDT | 100% | 131 | 50 |
Accelerate Diagnostics, Inc. | AXDX | 100% | 477 | 3 |
Dick’s Sporting Goods, Inc. | DKS | 100% | 1820 | 2609 |
Aegion Corp. | AEGN | 100% | 486 | 310 |
Redfin Corp. | RDFN | 100% | 1750 | 233 |
Genesco, Inc. | GCO | 100% | 197 | 678 |
Scientific Games Corp. | SGMS | 100% | 835 | 863 |
Hanger, Inc. | HNGR | 100% | 583 | 301 |
Playa Hotels & Resorts NV | PLYA | 100% | 209 | 144 |
iHeartMedia, Inc. | IHRT | 100% | 360 | 1026 |
PEDEVCO Corp. | PED | 99% | 62 | 4 |
Realogy Holdings Corp. | RLGY | 90% | 393 | 1330 |
Ondas Holdings, Inc. | ONDS | 90% | 119 | 0 |
Guess?, Inc. | GES | 70% | 444 | 842 |
Meritor, Inc. | MTOR | 60% | 1120 | 901 |
Ryman Hospitality Properties, Inc. | RHP | 50% | 1760 | 447 |
Pluristem Therapeutics, Inc. | PSTI | 50% | 58 | 0 |
Viad Corp. | VVI | 50% | 402 | 321 |
Group 1 Automotive, Inc. | GPI | 50% | 942 | 3111 |
Tailored Brands, Inc. | TLRD | 50% | 72 | 691 |
Lands’ End, Inc. | LE | 50% | 200 | 549 |
Houghton Mifflin Harcourt Co. | HMHC | 50% | 261 | 241 |
Trinseo SA | TSE | 50% | 731 | 889 |
EVO Payments, Inc. | EVOP | 50% | 1260 | 129 |
Canterbury Park Holding Corp. | CPHC | 50% | 49 | 13 |
Chico’s FAS, Inc. | CHS | 50% | 137 | 527 |
Bassett Furniture Industries, Inc. | BSET | 50% | 49 | 112 |
The Container Store Group, Inc. | TCS | 45% | 118 | 229 |
U.S. Physical Therapy, Inc. | USPH | 40% | 894 | 122 |
Briggs & Stratton Corp. | BGG | 40% | 81 | 438 |
Cardtronics plc | CATM | 40% | 715 | 339 |
SunPower Corp. | SPWR | 30% | 1120 | 603 |
Clear Channel Outdoor Holdings, Inc. | CCO | 30% | 299 | 745 |
Cardiovascular Systems, Inc. | CSII | 30% | 1250 | 68 |
Bed Bath & Beyond, Inc. | BBBY | 30% | 452 | 2759 |
Dycom Industries, Inc. | DY | 29% | 832 | 738 |
Six Flags Entertainment Corp. | SIX | 25% | 1060 | 261 |
Penn National Gaming, Inc. | PENN | 25% | 1360 | 1341 |
JELD-WEN Holding, Inc. | JELD | 25% | 859 | 1069 |
Barnes & Noble Education, Inc. | BNED | 25% | 58 | 502 |
Silk Road Medical, Inc. | SILK | 25% | 931 | 19 |
Cohu, Inc. | COHU | 543 | 142 | |
TrueCar, Inc. | TRUE | 20% | 252 | 354 |
Deluxe Corp. | DLX | 20% | 1110 | 522 |
Invacare Corp. | IVC | 20% | 244 | 233 |
Cheesecake Factory, Inc. | CAKE | 20% | 727 | 694 |
Kaman Corp. | KAMN | 20% | 957 | 238 |
Stein Mart, Inc. | SMRT | 20% | 22 | 340 |
The Lovesac Co. | LOVE | 20% | 66 | 52 |
NCS Multistage Holdings, Inc. | NCSM | 20% | 26 | 52 |
Farmer Brothers Co. | FARM | 15% | 121 | 152 |
GP Strategies Corp. | GPX | 15% | 104 | 155 |
Daktronics, Inc. | DAKT | 15% | 199 | 128 |
Bonanza Creek Energy, Inc. | BCEI | 12.50% | 189 | 80 |
TransAct Technologies, Inc. | TACT | 10% | 30 | 11 |
Nabors Industries Ltd. | NBR | 10% | 176 | 714 |
UTG, Inc. | UTGN | 10% | 108 | 0 |
SI-BONE, Inc. | SIBN | 10% | 351 | 20 |
EVO Transportation & Energy Services, Inc. | EVOA | 10% | 85 | 28 |
*we researched companies that have a market capitalization between $20 million and $2 billion.
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