Whole Foods’ Mackey pay valued at $653,671 in 2009
Austin, Texas Whole Foods Market CEO John Mackey's compensation grew in 2009 according to a report by the Associated Press, but donated the gains to a farm-animal welfare group, standing by his commitment to keep his pay low.
Mackey voluntarily cut his salary to $1 in 2007 as the company entered a turnaround effort. He also elected to forgo earning any future cash compensation, stock awards or other options awards.
According to a document filed with the Securities and Exchange Commission on Monday, Mackey's compensation for the 2009 fiscal year was valued at $653,671, up from $33,831 in fiscal 2008.
The CEO's salary remained at $1 and he received no bonus, perks or stock options, as in the prior year.
Mackey's only other compensation in 2009 was $653,670, mainly the balance from a previous incentive bonus plan that was frozen when he reduced his salary. The $607,800 balance was paid to him during the year and he subsequently donated the after-tax proceeds of $379,636 to the Global Animal Partnership, a nonprofit organization that works to improve the lives of farm animals.