Zoe’s new quarterly subscription service costs $100 per shipment and will feature at least one item sold at significantly below cost.
CEO Shane Evangelist’s pay package remains at $765,000.
U.S. Auto Parts Network’s CEO Shane Evangelist stands to collect up to $765,000 in 2012 compensation, according to a new document filed with the U.S. Securities and Exchange Commission.
Evangelist’s base salary is set at $425,000 and a discretionary bonus could bring him another $340,000 in shares of common stock, according to pay packages set forth by the company’s board of directors. His total compensation is $765,000, the same as it was in 2011.
Compensation packages for four other U.S. Auto Parts Network, No. 59 in the Internet Retailer Top 500 Guide, executives were identified as follows:
- Theodore R. Sanders, chief financial officer, base salary of $307,500 and bonus of $153,750. Sanders’ compensation remained at $461,250, the same as last year and 2010.
- Aaron E. Coleman, chief operating officer, base salary of $300,000 and bonus of $150,000 for a total of $450,000. His compensation increased by 0.7% from $447,000 in 2011.
- Houman Akhavan, vice president of marketing, base salary of $270,000 and bonus of $95,000 for a total of $365,000, virtually unchanged from 2011.
- Charles Fischer, senior vice president of global sourcing and procurement, base salary of $230,000 and bonus of $90,000 for a total of $320,000. Fischer’s pay package increased slightly—by 0.8%—from $317,500 in 2011.
All five executives chose to receive any discretionary bonus payments in the form of common stock in the company, the filing noted. The bonuses are based on the company’s achievement of revenue and earnings targets.
For the third quarter ended Oct. 1, U.S. Auto Parts reported:
- Sales, including those from last year’s acquisition of JC Whitney, were about $78.5 million, up by 8.6% from $72.3 million in Q3 2010.
- Sales excluding $19.2 million of revenue from the acquisition of J.C. Whitney were about $59.4 million, up by 1.2% from $58.7 million.