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Compensation for IEC chief executive rises 17%

The top executive at IEC Electronics Corp. reported an increase in compensation in 2016 over 2015, a filing with the Securities & Exchange Commission shows.

CEO Jeffrey Schlarbaum received total compensation last year of $1.14 million, up 17 percent from $970,000 in 2015. The total compensation included a base salary of $353,000 and other items such as stock awards and a non-equity incentive compensation plan, the filing states. 
The other listed top executives’ compensation was
• Michael Williams, chief financial officer, who had total compensation of $526,000, up from $242,000 the prior year. The 2016 compensation included a base salary of $205,000; and
• Jens Hauvn, senior vice president of operations, had total compensation of $637,000 in 2016, up from $328,000 in 2015. Total compensation in 2016 includes a base salary of $220,000.
The filing also noted IEC is to hold its annual meeting of stockholders at March 7 at the offices of Harter Secrest & Emery LLC in Rochester. 
Among the action items are to elect seven directors to serve for the year; ratify the selection of Crowe Horwath LLP as its independent registered public accounting firm; and approve, on an advisory basis, the compensation of IEC’s executive officers. 
(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail rbj@rbj.net.


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