Pepsi Bottling Group has seen some pretty flat share activity in the last year, with prices puttering between $26 and $30. So it should come as little surprise that the company took the fizz out of executives’ compensation this year, too.
Pepsi Bottling’s directors decided earlier this month against awarding performance-based restricted stock awards, since the company’s top executives failed to meet their performance measures. According to filings with the Securities and Exchange Commission, the restricted stock was granted in 2003 and scheduled to vest only if certain performance targets were achieved in 2003, 2004 and 2005. On Feb. 2, the board’s compensation and management development committee decided the performance targets were not met, and canceled the awards.
