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Shareholders approve pay, directors at Snyder’s-Lance meeting

Snacks at the Snyder’s-Lance factory in Charlotte.
Snacks at the Snyder’s-Lance factory in Charlotte. Observer file photo

At its annual shareholders meeting this week, Charlotte-based Snyder’s-Lance stockholders approved pay packages for top executives and the company’s slate of directors.

In a non-binding “say-on-pay” vote, shareholders affirmed CEO Carl Lee’s 2015 compensation of $2.14 million, which represented a 21 percent drop from the prior year, according to a recent securities filing from the company.

Lee’s annual pay included a base salary of $835,000; $500,000 in stock awards; $500,000 in option awards; a $285,000 bonus and $20,697 in “other” compensation.

The board also voted in favor of adding the following members to serve until Snyder’s-Lance shareholder meeting in 2019: John Denton, Lawrence Jackson, David Moran and Dan Swander.

Brian Driscoll was voted in to serve on the board of directors until 2017.

Snyder’s-Lance is known for Hanover’s pretzels and Lance peanut butter sandwich crackers and was formed when Charlotte-based Lance Inc. merged with pretzel maker Snyder’s of Hanover in 2010. The publicly traded company employs about 1,500 in Charlotte.

Last fall, Snyder’s-Lance said it was buying California better-for-you snackmaker Diamond Foods for $1.91 billion.

Katherine Peralta: 704-358-5079, @katieperalta

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