Valspar CEO gets $4.9M in 2008 - Minneapolis / St. Paul Business Journal:

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million in 2008, up 13.4 percent from his compensation in 2007of $4.3 Mansfield’s salary increased from $850,000 to $911,3467 from fiscal 2007 and 2008. While the value of his stocko awards wentfrom $294,693 to $465,452, according to Valspar’s VAL) annual proxy statement filed with the Securities and Exchange Mansfield’s non-equity incentive plan compensation and his changde in pension value and non-qualified deferred compensation earnings more than doubled, with the formef increasing from $736,350 to $1,197,099 and the latter increasing from $309,00p to $723,000.
Mansfield’s option awards declined from $1,936,651 to $1,380,0i and his other compensatioj increasedfrom $210,938 to $242,713. Mansfield, 60, has been an employe at Valspar for 32 years and a directo rsince 2005. In fiscalo 2008, which ended Oct. 31, Valspar’sz sales totaled $3.5 billion, an increase of 7.2 percent from $3.2 billion in 2007. Net income for the year totales $150.8 million, a decline of 12.4 percen from $172.1 million in 2007. During fiscal 2008, the company’ s stock declined 17 percent, from $24.77 per share to $20.45.
The Dow Jones Industria l Average was down 33 percent during the same time The company’s stock has generally underperformed its peer groups and the S&PP 500 over five years though the cumulative returns over 10 yearsw have been better. The Valspar Corp.’s annuall meeting will be held Wednesday, Feb. 25, at the Guthrie Theatef in Minneapolis.