In a filing with the SEC, Batavia-based Graham Corp. announced raises for its senior executives, effective April 1, according to the Rochester Business Journal.
Pay for CEO James Lines jumps 3.8 per cent, from $265,000 to $275,000.
Three percent increases were given to Jeff Glajch, vice president–finance and administration and chief financial officer, to $216,000; Alan Smith, vice president of operations, to $183,536; and, Jennifer Condame, controller and chief accounting officer, to $132,613.
Howard, I don't understand
Howard, I don't understand why this is newsworthy. It's merely a company in the private sector that gave their officers a raise based on (what I assume) is a job well done. My sister received a raise of just over 4% recently and it was not covered by the media. :)
Because they're a publicly
Because they're a publicly traded company that is required to report such things.
It's up to other readers to decide what they think of it. Personally, I think that Lines, compared to other CEOs, is grossly underpaid (though I don't know at the present what his bonuses amount to ... hopefully, more than $1 million a year). Others might see it differently.
Graham is our only publicly traded company, so anything they do, pretty much is newsworthy.
Got ya.
Got ya.