Drugstore.com is giving CEO Dawn Lepore a pay raise.
Under a new employment offer the company made public on Dec. 29, Drugstore.com has increased Lepore’s annual salary to $400,000 and made her eligible for a performance bonus that can range from 50% to 150% of her annual base.
The pay raise is an increase over the $350,000 base salary Lepore earned in 2005 with Drugstore.com, which she joined in September of 2004. Her total base compensation in 2005 reached $550,000, including a bonus of $200,000, according to the company’s 2005 proxy statement.
The new offer also grants Lepore the option of purchasing up to 1 million shares of common stock.
As CEO of Drugstore.com, No. 32 in the Internet Retailer Top 500 Guide to Retail Web Sites, Lepore is working to make the company profitable. With a boost from beauty products, net sales at Drugstore.com Inc. rose 4.2% year-over-year to $100.6 million for the third quarter ended Oct. 1, as net loss narrowed by 64% to $2.6 million from $7.1 million.
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