Herkert’s First-Year Pay Totals $10.79M

MARK HAMSTRA

MINNEAPOLIS — Craig Herkert, president and chief executive officer of Supervalu, received $10.79 million in total compensation in the company’s most recent fiscal year, according to documents filed Monday with the Securities and Exchange Commission.

Herkert, who was named last May to succeed Jeff Noddle at the retailer and wholesaler, based here, was paid a base salary of $653,846. His compensation also included $6.78 million in stock awards and another $2 million in option awards, plus nearly $1 million in other compensation, which included $585,892 in moving and relocation allowances. He also earned $398,183 for achieving performance-based incentives.

Noddle’s compensation for the year was about $2.88 million, including about $1.14 million in base salary and $695,391 in performance-based incentives. Most of the remainder was recorded as an increase in pension value.

Read More of Today's Headlines