Build-A-Bear Workshop had a difficult year in fiscal 2018, posting a $17.9 million loss, so its top executives earned no bonuses.
Reported pay for Chief Executive Sharon John, however, rose 14 percent to $2.1 million, a proxy statement filed last week discloses.
The main factor boosting her pay was a "business transformation incentive grant" consisting of options and performance-based stock. Including that transformation incentive, John was credited with $1.25 million worth of stock and $180,475 worth of options last year.
More than half of the stock — in the special incentive and the company's regular long-term pay plan — can only be collected if Build-A-Bear meets profit and revenue targets for 2018, 2019 and 2020.
That portion of John's pay truly is at risk: Performance-based stock issued in 2015 and 2016 was forfeited because the company didn't meet its three-year goals.
John's base salary rose 1.7 percent last year to $711,654.
Build-A-Bear's share price fell 45 percent during the fiscal year, which ended Feb. 1.