Thursday, November 02, 2006
Epolin (EPLN)
Epolin (combined links) filed an 8-K this week saying that the Chairman, Murray S. Cohen, will take a 50% pay cut in base salary because he's partially retired. I assume this means the new CEO, Greg Amato, is doing OK.
Based on the latest proxy, Cohen's salary was $305K for last year, this adds $152K to the income. In the 10-K, net income was $594K for the year ending Feb 28, 2006. If you take taxes into account, the pay cut adds $96K or 16% to the bottom line.
Based on the latest proxy, Cohen's salary was $305K for last year, this adds $152K to the income. In the 10-K, net income was $594K for the year ending Feb 28, 2006. If you take taxes into account, the pay cut adds $96K or 16% to the bottom line.
// posted by Bruce @ 6:53 PM 
