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Top executives at IEC Electronics Corp. saw an increase in their annual salaries, but a decrease in total annual compensation in 2012, filings with the Securities & Exchange Commission show.
Barry Gilbert, chairman and CEO, received total compensation of $521,548 in 2012, down from roughly $1 million in 2011. The most current number includes his salary of $324,324, which is up from $298,455.
Other factors affecting total compensation include stock awards, non-equity incentive plan compensation and all other compensation.
President Jeffrey Schlarbaum received total compensation of $369,892 in 2012, including a salary of $251,640. That compares with total compensation of $610,239 and a salary of $239,721, the prior year.
Vincent Leo, chief financial officer, received compensation totaling $117,600 in 2012, all of which is attributed to his salary. Leo was not in the position in 2011.
Donald Doody, executive vice president of operations, received $296,890 in total compensation this year, including a salary of $205,526. That compares with total compensation of $467,155 and a salary of $194,869 in 2011.
Both stock awards and non-equity incentive plan compensation were down sharply in 2012 for Gilbert, Schlarbaum and Doody.
The compensation was included in the proxy form announcing IEC’s annual meeting at 9 a.m. Jan. 30 at the firm’s headquarters in Newark, Wayne County.
At the meeting shareholders are to: elect six directors to serve until the 2013 annual meeting; ratify the selection of EFP Rotenberg LLP as the independent registered public accounting firm; approve the compensation of executive officers; and vote on the frequency of future advisory votes on named executive officer compensation.
IEC ranked 15th on the most recent Rochester Business Journal list of manufacturers with 592 workers.
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