Biglari compensation

[shalab]

I was looking at the def14a from BH - Biglari is the highest paid employee of BH by an order of magnitude.

 

His compensation for the past three years came in at:

 

4.922 million

2.122 million

.515 million respectively

 

In the past year, 15% of the pre-tax operating earning went to pay Biglari.

 

Operating earnings rose by 23% YoY including trading income but Biglari compensation went up by 132%. Nice to have hedge fund compensation scheme in a traditional business.

 

 

 

He is yet to hit the 10 million cap which will take another year to breach. I expect him to fully increase the upper limit to 20 or 30 million.

 

cheers!

 

[Kuhndan]

I think the bonus plan was only in effect for one quarter of the second year. His take would have been much higher and most likely comparable to this past year. Get ready for this year, with the Cracker Barrel gains he will be pushing the cap. That being said, I guess that means he made some money for his shareholders as well.

[Parsad]

That being said, I guess that means he made some money for his shareholders as well.

 

Of course.  And it won't be long before he is by far the largest shareholder.  At that point, the name change would actually be suitable.  ;D  Maybe the compensation agreement should have come before the name change.  Cheers!