Superior Group Sets CEO Michael Benstock's $1.04 Million Pay Through 2029

1 articles · Updated · StockTitan · May 29

$1,044,399 is Michael Benstock's initial annual base salary under a new Superior Group employment agreement that runs through May 31, 2029.
The deal guarantees him at least $500,000 in annual bonuses for fiscal 2026, 2027 and 2028, with higher payouts possible if company performance warrants and he remains employed on Dec. 31.
$2.1 million in retention pay would be due within 240 days after his voluntary retirement or resignation for Good Reason, adding to prorated vesting of restricted stock awards upon retirement.
If Superior Group terminates Benstock without Cause — including within 12 months of a change in control — or he resigns for Good Reason, severance equals twice his highest annual compensation plus a prorated minimum bonus.
The new contract replaces Benstock's prior severance protection agreement and also provides accrued pay, benefits and limited post-retirement office and administrative support.

As the CEO's pay soars, will cost-cutting affect the company's 6,500 employees?

Does the CEO’s new deal protect shareholders or just the founding family’s dynasty?

Will this huge CEO contract fuel SGC's growth or just create an expensive safety net?