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Tuesday, March 20, 2012

Pay for Sturm Ruger executives more than tripled in 2011

Sturm Ruger & Co.’s top five executives earned compensation packages totaling $12.15 million in fiscal 2011, more than triple the amount they earned a year ago, according to the company’s annual proxy.

Michael O. Fifer , the company’s CEO, got the biggest package, about $4.52 million – more than $3 million more than the $1.3 million he earned the previous year, with $2.71 million in time-based stock awards, some $846,000 in performance-based awards and $488,000 in salary.

Fifer was followed by Christopher Killog, vice president of sales and marketing, who was paid $2.7 million, compared to $600,000 in 2010; Mark Lang, group vice president ($1.7 million, compared to $595,000); chief financial officer Thomas Dineen ($1.6 million, compared to $601,000); and Thomas Sullivan, vice president of Newport operations ($1.6 million, compared to $597,000).

The gun manufacturer’s six-member board also took in a total of $970,000, with just a little more in stock awards compared to cash fees. Chairman C. Michael Jacobi earned the most – $190,000.

Shareholders will be able to tour the company’s main manufacturing facility at 1 p.m. May 1 in Newport, but to be included, they have to notify CFO Dineen by March 23.