Family Dollar Hikes CEO Base Salary To $1.2 Mln

(RTTNews) - Family Dollar Stores Inc. (FDO), which is being acquired by Dollar Tree Inc. (DLTR), in a regulatory filing announced pay increase for its Chief Executive Howard Levine.

Levin'e base salary is now $1.19 million, which is up around 3 percent. His target cash bonus award is 120 percent and long-term incentives total $3.8 million.

The company's Chief Financial Officer Mary Winston's base pay also rose about 3 percent to $520,000. She may get $500,000 in bonus.

The company said on October 14, its Leadership Development and Compensation Committee of the Board of Directors approved fiscal year 2015 annual compensation packages for these executive officers.

Increases to base salaries are effective from October 26.

FDO closed down 0.2 percent on Thursday at $76.37.