Just days after Crocs Inc. accountants proclaimed 2020 to likely be the , the footwear maker announced executive bonuses in the form of company shares worth millions of dollars.
Crocs CEO Andrew Rees was given 108,510 shares worth about $7 million while chief financial officer Anne Mehlman and chief legal and risk officer Daniel Hart received incentive packages worth $3 million and $2 million, respectively.
In a U.S. Securities and Exchange Commission filing Thursday, Crocs said the bonuses “provide a retention incentive for Mr. Rees and the other executive officers and closely aligns their interests with those of the company’s stockholders.”
Crocs, in a regulatory Monday, adjusted up its 2020 revenue guidance, indicating the firm expects revenue to grow more than 12%. In past disclosures, the company expected 5% to 7% growth for the year.
All told, Crocs expects to rack up sales between $1.381 billion and $1.384 billion for 2020, good for the company’s best annual sales total.
Looking ahead, Crocs is not expecting a sales slowdown in 2021. The company predicts it will achieve full year 2021 revenue growth of 20% to 25% compared to 2020.
