Winnebago CEO and President Michael Happe will be receiving a pay increase and stock options, according to a recent 8K filing with the Securities Exchange Commission.
The filing with the SEC filed by Winnebago reported that the company’s Human Resources Committee, part of the company Board of Directors, opted on Dec. 13 to increase Happe’s annual base from $550,000 to $625,000.
Meanwhile, the Committee also approved a stock option grant to Happe of 17,000 shares of common stock. The exercise price of the option grant is $35.50 per share. The option grant vests in one-third increments over three years, and the option lasts for 10 years, according to the SEC.
Happe was hired by Winnebago in December 2015. Since that time, Winnebago has acquired fast-growing towables manufacturer Grand Design for $500 million in cash and stock, it has acquired Country Coach’s former facility in Oregon, and it has restructured its top management, in some cases bringing people outside the industry into top positions.
Winnebago’s stock has increased from about $20 per share in January 2016 to about $35 per share in December 2016.