| Small & micro cap project / Activism insight

CEOs who took a base salary cut during the current coronavirus pandemic

by Raghuraman | Apr 9, 2020

We have compiled the list of all CEOs who agreed to reduce their base salary from March 1^st2020.

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	20%	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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