OMAHA, Neb. (AP) — New documents show that top executives at outdoor outfitter Cabela’s collected big cash bonuses before being bought out by rival Bass Pro Shops, despite failing to meet profit goals they had earlier set to earn those bonuses.
The bonuses were spelled out in documents Sidney-based Cabela’s filed Thursday with the federal Securities and Exchange Commission. Chief Executive Tommy Millner garnered the most at $392,376. The bonuses totaled about $1.2 million.
But the documents also show executives failed to achieve the financial goals laid out ahead of time to qualify for the bonuses. Instead, company leaders simply changed the objectives after the fact to bring the goals in line with actual performance.
Messages left Saturday for a Cabela’s spokesman were not immediately returned.