The Fresh Market (NASDAQ:TFM) has a new CFO.
On Tuesday, the specialty retailer announced that on June 3, it will bring in former Sealy CFO Jeffrey Ackerman to become its own new chief financial officer. Ackerman, 50, will oversee The Fresh Market's accounting, audit, IT, investor relations, tax, and financial planning and analysis functions.
In exchange for his services, The Fresh Market revealed in an SEC filing today that it will pay Ackerman an annual base salary of $400,000, plus:
- A $160,000 signing bonus.
- $300,000 in restricted stock.
- $420,000 worth of equity, "pro-rated for the time period from June 3, 2013, until the end of the company's 2013 fiscal year." This grant will be in the form of 40% stock options, 30% restricted stock, and 30% performance share units -- shares granted conditioned on the company's hitting some particular financial targets.
Speaking of shares, The Fresh Market shares are up 0.2% on the news, trading around $46.58.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends The Fresh Market. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.