Jos. A. Bank Clothiers Inc.'s top executive, R. Neal Black, earned $2.9 million last year, a decrease from the $4 million in compensation Black earned in 2011, the Hampstead-based men's apparel retailer said.
Executive compensation for CEO Black, who also serves as the company's president, included a base salary of $806,492 and $1.96 million in stock awards, Bank reported in a filing Friday with the U.S. Securities and Exchange Commission.
In 2011, Black's earnings also included $1.2 million in non-equity incentive plan compensation.
Last year, the CEO had an opportunity to earn a maximum of $1.96 million under a performance restricted stock unit award agreement, the filing said. But net income for fiscal 2012 – at $79.7 million -- fell below the lowest levels of eligible net income for the program, making Black and other executive officers ineligible for the awards.
The company's net income fell more than 18 percent in fiscal 2012 from net income of $97.5 million in fiscal year 2011.Copyright © 2015, The Baltimore Sun