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October 26, 2014

Supervalu offers top execs retention pay, options

The struggling Eden Prairie-based supermarket chain is trying to “retain and motivate key employees.” A regulatory filing shows CEO Craig Herkert, CFO Sherry Smith, executive vice president Janel Haugarth and EVP Andrew Herring were awarded non-qualified stock options and retention agreements as long as they stay with the company through 2014.

The Tell blog at MarketWatch.com has more on the deals.

Earlier this month, Supervalu suspended its dividend and saw its stock value fall to an all-time low after it reported a plunge in quarterly profit.

The troubled grocery-store chain has hired Goldman Sachs to explore selling either part or all of its supermarket operations.