Norman S. Rich served as the CEO of Weis Markets, Inc. from 2002 until his retirement in 2008, marking a notable 44 years with the company. Before becoming CEO, he held various important roles within the organization, including President. Rich...

Norman S. Rich served as the CEO of Weis Markets, Inc. from 2002 until his retirement in 2008, marking a notable 44 years with the company. Before becoming CEO, he held various important roles within the organization, including President. Rich was instrumental in guiding the company's strategies during his tenure. In 2008, his total compensation was approximately $1 million, reflecting his significant contributions to the company’s growth and performance. Interestingly, he owned 32,322 shares of Weis Markets, which represented a small fraction of the overall ownership; however, his family ties run deep within the company, hinting at a legacy of involvement in the grocery business. After retiring, he left behind a solid foundation that would transition the leadership to David J. Hepfinger. Rich's long career in retail shaped him into a key figure in the supermarket industry, making his insights and decisions impactful during a pivotal time for the company.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Weis Markets CEOs

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Norman S. Rich

Ex-CEO of Weis Markets

Field of Expertise

Consumer Goods & Retail - Retail

Sector of Economy

Consumer Defensive

CEO of Weis Markets for

14 years 11 months (Jan 1994 - Dec 2008)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Norman S. Rich

I

James Lanning

CEO of Ingles Markets

2023 Compensation

Stock

$0.00

Salary

$1.12M

Bonus

$2.12M

Other

$57.52K

Total Holdings

$623.10K

Holdings

See how much did Norman S. Rich make over time.

At the time of his retirement in 2008, Norman S. Rich had a stake of 32,322 shares in Weis Markets. During his career, he experienced fluctuations in his wealth tied to the company’s performance. His holdings represented a very small...

At the time of his retirement in 2008, Norman S. Rich had a stake of 32,322 shares in Weis Markets. During his career, he experienced fluctuations in his wealth tied to the company’s performance. His holdings represented a very small percentage of the total shares outstanding, but it indicates his commitment and belief in the company. Despite conflicting economic conditions over the years, his shares reflected modest performance and stability. The value of these shares, coupled with his compensation during his last years at the company, showcased his financial investment in Weis Markets, emphasizing a long-standing relationship with the business he helped lead.

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Insider Trading

See recent insider trades of Norman S. Rich.

No insider trades found for this CEO.

Compensation History

See how much did Norman S. Rich make over time.

In 2008, Norman S. Rich's total compensation was about $1,018,559, which included a base salary of $675,000 and a bonus of $10,125 based on performance metrics set by the company's Compensation Committee. His compensation emphasized a structure aimed at attracting and keeping talented executives in line with the company’s performance goals. It's interesting to note that in earlier years, like in 2005, his total compensation peaked at almost $905,000, demonstrating a trend of variable earnings tied to the company’s financial achievements and his role therein. His lack of stock options during his tenure indicates a focus on salary and bonuses rather than equity, which is somewhat unusual in corporate environments today.

Year

2008

Total Compensation

$691.04K

Salary

$675.00K

Board Justification

The compensation philosophy aims to attract and retain qualified executives by providing competitive compensation packages aligned with company performance and peer benchmarking.

Bonus

$10.13K

Board Justification

The bonus is based on the achievement of specific financial objectives set by the Compensation Committee, with a payout potential of up to 50% of base salary for the CEO.

Other

$5.92K

Board Justification

Other compensation includes contributions to the SERP and perquisites such as use of company automobiles and tax filing assistance.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock was vested in 2008 as the company does not have an equity-based incentive plan.

Performance Metrics

The performance metrics for determining the CEO's compensation included total company sales growth and operating profit growth compared to the previous fiscal year.

Other Weis Markets CEOs

Here are other CEOs of Weis Markets

David J. Hepfinger

Ex-CEO of Weis Markets

January 2009 - September 2013