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Proxy shows salaries of Monro's top executives

Rochester Business Journal
July 9, 2014

Monro Muffler Brake Inc. president and CEO John Van Heel earned more than $817,000 in total compensation in fiscal 2014, the company reported in its proxy statement filed with the Securities and Exchange Commission.

Van Heel earned a salary of $550,000, up from $525,000 in fiscal 2013, as well as $252,000 in non-equity incentive plan compensation. His total compensation included $14,500 in other compensation.

Van Heel’s fiscal 2013 total compensation was $3.08 million, which included stock option awards of $2.54 million.

Executive Chairman Robert Gross earned more than $770,000 in total compensation in fiscal 2014, which included a $150,000 bonus and nearly $193,000 in non-equity incentive plan compensation. Gross earned $791,000 in total compensation in fiscal 2013.

Gross’ bonus was in connection with the renewal of his employment agreement in 2007, payable in five annual installments.

Joseph Tomarchio Jr., executive vice president-store operations, earned nearly $677,000 in total compensation, including stock option awards of $80,000. That compares with total compensation of $589,000 in fiscal 2013.

Catherine D’Amico, chief financial officer and executive vice president of-finance, earned $491,000 in total compensation in fiscal 2014, compared with $429,000 in 2013. D’Amico’s total compensation included $80,000 in stock option awards.

Monro’s divisional vice president—southern operations Craig Hoyle earned nearly $285,000 in total compensation in fiscal 2014, compared with $241,000 in fiscal 2013. That includes stock option awards of $50,000.

Monro plans to hold its annual shareholder meeting Aug. 5 at the Hyatt Regency Rochester, the SEC filing states. The agenda includes the re-election of four Class 1 directors, as well as approval of compensation paid to the company's top five executives.

Shares of company stock (Nasdaq: MNRO) were up nearly 4 percent at $53.45 in afternoon trading.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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