LOUISVILLE, Ky. -- Papa John's International more than doubled the salary of John Schnatter, founder and CEO last year.
An April 8 SEC filing showed his base pay rose to $622,355 from $229,327 in 2000. Schnatter, who also serves as president and company chairman, received 20,000 stock options, a bonus of $112,172 and nearly $380,000 in other compensation.
In February, Papa John's compensation committee approved a 2002 base salary of $701,000 for Schnatter.
According to Dow Jones Newswires, four top officers (Charles W. Schnatter, chief development officer; Robert J. Waddell, chief operating officer; Julie Larner, chief adminstrative officer; and Mary Ann Palmer, chief resource officer) also received a 20,000-option award last year. According to the filing, if the company's stock appreciates 5 percent annually, those awards would be worth $283,740. Should it appreciate 10 percent annually, those options' value would rise to $719,140.
Currently Schnatter holds more than 6 million shares of Papa John's International (PZZA: NYSE), or 28.6 percent of the company's outstanding shares.