Companies NEW Rite AID, LLC
NEW Rite AID (RAD): executive pay, fiscal 2023
Free brief. Every figure links to the company’s own filing.
NEW Rite AID, LLC no longer files a proxy statement; its last pay data is FY2023.
CEO pay, last three years
- $858,459FY2023
CEO total pay was $858,459 in fiscal 2023; the brief holds no earlier figure for this CEO.
FY2023: salary $588,462 · bonus $0 · stock awards $159,997 · option awards $0
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Heyward Donigan | $1,043,713 | $0 | $7,106,993 | $0 | $0 | $0 | $617,105 | $8,767,811 |
| Former President and CEO | ||||||||
| Matthew Schroeder | 796,921 | 0 | 1,924,810 | 0 | 0 | 0 | 25,600 | 2,747,331 |
| VP CFO | ||||||||
| Justin Mennen | 562,432 | 0 | 1,073,349 | 0 | 0 | 0 | 25,255 | 1,661,036 |
| VP Chief Digital and Technology Officer | ||||||||
| Paul Gilbert | 641,566 | 0 | 929,769 | 0 | 0 | 0 | 26,575 | 1,597,910 |
| Former Executive VP, Chief Legal Officer, and Secretary | ||||||||
| Andre Persaud | 570,058 | 0 | 953,741 | 0 | 0 | 0 | 26,750 | 1,550,549 |
| Former Executive VP, Chief Retail Officer | ||||||||
| Elizabeth Burr | 588,462 | 0 | 159,997 | 0 | 0 | 0 | 110,000 | 858,459 |
| CEO | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Heyward Donigan | $8,767,811 | $9,911,507 | $9,571,087 | ↓ −1,143,696 |
| Matthew Schroeder | 2,747,331 | 3,437,061 | 3,175,858 | ↓ −689,730 |
| Justin Mennen | 1,661,036 | 1,654,909 | 1,654,791 | ↑ +6,127 |
| Paul Gilbert | 1,597,910 | 1,909,010 | — | ↓ −311,100 |
| Andre Persaud | 1,550,549 | — | — | — |
| Elizabeth Burr | 858,459 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company emphasizes a compensation mix comprised primarily of variable pay to reinforce a performance-based culture, with base salary making up the smallest portion of total direct compensation. Pay is designed to be generally comparable to peer companies and to align executive interests with stockholder value creation through both annual and long-term incentives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Mercer (US) LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2023
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Elizabeth Burr | RSU | 2022-07-27 | — | — | 21,505 | — | $159,997 |
| Heyward Donigan | PSU | 2022-07-27 | 197,019 | 525,383 | — | 985,093 | 3,908,850 |
| Heyward Donigan | RSU | 2022-07-27 | — | — | 429,858 | — | 3,198,144 |
| Paul Gilbert | PSU | 2022-07-27 | 25,775 | 68,733 | — | 128,874 | 511,374 |
| Paul Gilbert | RSU | 2022-07-27 | — | — | 56,236 | — | 418,396 |
| Paul Gilbert | PSU | 2022-07-27 | 26,439 | 70,505 | — | 132,197 | 524,557 |
| Justin Mennen | PSU | 2022-07-27 | 22,692 | 60,511 | — | 113,458 | 450,202 |
| Justin Mennen | RSU | 2022-03-22 | — | — | 26,000 | — | 254,800 |
| Justin Mennen | RSU | 2022-07-27 | — | — | 49,509 | — | 368,347 |
| Andre Persaud | RSU | 2022-07-27 | — | — | 57,686 | — | 429,184 |
| Matthew Schroeder | PSU | 2022-07-27 | 53,359 | 142,291 | — | 266,796 | 1,058,645 |
| Matthew Schroeder | RSU | 2022-07-27 | — | — | 116,420 | — | 866,165 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Elizabeth Burr | $159,997 | $0 | $0 | 0.0% |
| Heyward Donigan | 3,198,144 | 3,908,850 | 0 | 55.0% |
| Paul Gilbert | 418,396 | 1,035,931 | 0 | 71.2% |
| Justin Mennen | 623,147 | 450,202 | 0 | 41.9% |
| Andre Persaud | 429,184 | 0 | 0 | 0.0% |
| Matthew Schroeder | 866,165 | 1,058,645 | 0 | 55.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2023
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Andre Persaud | RSU | 5,950 | — | $21,301 |
| Justin Mennen | RSU | 6,264 | — | 22,425 |
| Paul Gilbert | RSU | 11,200 | — | 40,096 |
| Matthew Schroeder | RSU | 13,571 | — | 48,584 |
| Justin Mennen | RSU | 15,228 | — | 54,516 |
| Andre Persaud | RSU | 17,418 | — | 62,356 |
| Paul Gilbert | RSU | 17,976 | — | 64,354 |
| Andre Persaud | PSU | 21,819 | — | 78,112 |
| Justin Mennen | PSU | 22,968 | — | 82,225 |
| Justin Mennen | RSU | 26,000 | — | 93,080 |
| Justin Mennen | PSU | 27,919 | — | 99,950 |
| Andre Persaud | PSU | 31,934 | — | 114,324 |
| Paul Gilbert | PSU | 32,956 | — | 117,982 |
| Matthew Schroeder | RSU | 37,226 | — | 133,269 |
| Justin Mennen | RSU | 49,509 | — | 177,242 |
| Matthew Schroeder | PSU | 49,763 | — | 178,152 |
| Paul Gilbert | RSU | 56,236 | — | 201,325 |
| Andre Persaud | RSU | 57,686 | — | 206,516 |
| Justin Mennen | PSU | 60,511 | — | 216,629 |
| Matthew Schroeder | PSU | 68,248 | — | 244,328 |
| Paul Gilbert | PSU | 68,733 | — | 246,064 |
| Andre Persaud | PSU | 70,505 | — | 252,408 |
| Matthew Schroeder | RSU | 116,420 | — | 416,784 |
| Matthew Schroeder | PSU | 142,291 | — | 509,402 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Bruce G. BodakenIndependent · Board Chair · Executive (Chair) · Nominating and Governance | $265,000 | $159,997 | $0 | $0 | $0 | $424,997 |
| Louis P. MiramontesIndependent · Audit (Chair) · Not standing for re-election | 125,000 | 159,997 | 0 | 0 | 0 | 284,997 |
| Kate B. QuinnIndependent · Nominating and Governance · Compensation (Chair) | 123,750 | 159,997 | 0 | 0 | 0 | 283,747 |
| Bari HarlamIndependent · Nominating and Governance (Chair) | 112,637 | 159,997 | 0 | 0 | 0 | 272,635 |
| Arun NayarIndependent · Audit · Executive | 110,000 | 159,997 | 0 | 0 | 0 | 269,997 |
| Robert E. Knowling JrIndependent · Audit · Compensation | 104,556 | 159,997 | 0 | 0 | 0 | 264,553 |
| Kevin E. LoftonIndependent · Departed during FY | 62,500 | 0 | 0 | 0 | 0 | 62,500 |
Board fee structure and ownership guideline
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $160,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 25,000 / 25,000 |
| Stock ownership guideline | $5 |
Total cost of the board
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $903,443 |
| Equity awards (grant-date value) | $959,982 |
| All other compensation | $0 |
| Total cost of the board | $1,863,425 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names NEW Rite AID as a peer
Companies that benchmark against RAD
1 company names RAD as a compensation peer
The list of companies that name RAD as a peer is temporarily unavailable — recheck shortly.
Disclosed peer group — fiscal year 2023
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
Of the companies NEW Rite AID, LLC names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including NEW Rite AID, LLC.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | NEW Rite AID, LLC | 2023 | Elizabeth Burr | $588,462 | $159,997 | $0 | $0 | $858,459 |
| — | AutoZone, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Humana Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Dollar General Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Laboratory Corporation of America Holdings | — | — | — | — | — | — | not in coverage universe |
| — | Centene Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Target Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Albertsons Companies, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Best Buy Co., Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Molina Healthcare, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Sprouts Farmers Market, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Dick’S Sporting Goods, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Ulta Beauty, Inc. | — | — | — | — | — | — | not in coverage universe |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| NEW Rite AID, LLC | not disclosed | not disclosed | not disclosed | not disclosed |
| Albertsons Companies, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| AutoZone, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Best Buy Co., Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Centene Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Dick’S Sporting Goods, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Dollar General Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Humana Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Laboratory Corporation of America Holdings | not disclosed | not disclosed | not disclosed | not disclosed |
| Molina Healthcare, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Sprouts Farmers Market, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Target Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Ulta Beauty, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
Insider trades since the proxy
Equity transactions since the proxy statement are temporarily unavailable — recheck shortly.
Sources (29 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Heyward Donigan. DEF 14A, filed 2023-06-29. Section “Summary Compensation Table”. As printed: 8,767,811. View filing ↗
- Section 01, Matthew Schroeder. DEF 14A, filed 2023-06-29. Section “Summary Compensation Table”. As printed: 2,747,331. View filing ↗
- Section 01, Justin Mennen. DEF 14A, filed 2023-06-29. Section “Summary Compensation Table”. As printed: 1,661,036. View filing ↗
- Section 01, Paul Gilbert. DEF 14A, filed 2023-06-29. Section “Summary Compensation Table”. As printed: 1,597,910. View filing ↗
- Section 01, Andre Persaud. DEF 14A, filed 2023-06-29. Section “Summary Compensation Table”. As printed: 1,550,549. View filing ↗
- Section 01, Elizabeth Burr. DEF 14A, filed 2023-06-29. Section “Summary Compensation Table”. As printed: 858,459. View filing ↗
- Section 03, Elizabeth Burr RSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Heyward Donigan PSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Heyward Donigan RSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Paul Gilbert PSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Paul Gilbert RSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Paul Gilbert PSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Justin Mennen PSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Justin Mennen RSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Justin Mennen RSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Andre Persaud RSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Matthew Schroeder PSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 03, Matthew Schroeder RSU. DEF 14A, filed 2023-06-29. Section “Grants of Plan-Based Awards Table for Fiscal Year 2023” · grants of plan-based awards table. View filing ↗
- Section 08, Bruce G. Bodaken. DEF 14A, filed 2023-06-29. Section “Director Compensation”. As printed: 424,997. View filing ↗
- Section 08, Louis P. Miramontes. DEF 14A, filed 2023-06-29. Section “Director Compensation”. As printed: 284,997. View filing ↗
- Section 08, Kate B. Quinn. DEF 14A, filed 2023-06-29. Section “Director Compensation”. As printed: 283,747. View filing ↗
- Section 08, Bari Harlam. DEF 14A, filed 2023-06-29. Section “Director Compensation”. As printed: 272,635. View filing ↗
- Section 08, Arun Nayar. DEF 14A, filed 2023-06-29. Section “Director Compensation”. As printed: 269,997. View filing ↗
- Section 08, Robert E. Knowling Jr. DEF 14A, filed 2023-06-29. Section “Director Compensation”. As printed: 264,553. View filing ↗
- Section 08, Kevin E. Lofton. DEF 14A, filed 2023-06-29. Section “Director Compensation”. As printed: 62,500. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 903,443 + equity 959,982 + all other 0 = 1,863,425, summed across the director compensation table rows.
- NEW Rite AID, LLC (subject), Section 10b CEO total. DEF 14A, filed 2023-06-29. CEO total compensation as printed in NEW Rite AID, LLC's own proxy. As printed: 858,459. View filing ↗