“In 2015, our performance fell below our financial targets, which significantly impacted the compensation paid to our CEO and CFO,” said CHS in a recent Securities and Exchange Commission filing.
Mr. Smith’s base salary is again set at $1.6 million in 2016. His performance-based restricted stock grants will fall 68 percent from a value of $7.3 million in 2015 to $2.3 million in 2016.
There was also no adjustment made to Mr. Cash’s salary for 2016, which will remain at $850,000.
CHS ended the final quarter of 2015 with a loss of $83 million, down from a profit of $100 million a year earlier.
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