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SEC: Park Electrochemical exec donates bonus to charity

Park Electrochemical chief executive Brian Shore

Park Electrochemical chief executive Brian Shore Photo Credit: Handout

Once again, Brian E. Shore, the chief executive at Melville-based Park Electrochemical Corp., was awarded an annual cash bonus by the company's compensation committee.

And once again, Shore (shown in photo, above) donated the bonus -- $50,000 this year -- to charity.

The bonus amount and Shore's total 2011 compensation of $407,760 (including the bonus) were disclosed Friday in a Securities and Exchange Commission filing.

Park makes composite materials for aircraft and electronic systems; and circuit boards for telecommunications.

Founded in 1954, it has a workforce of more than 600, and in the past 12 months had income of $28.2 million on revenue of $200.3 million. Its shares, traded on the New York Stock Exchange, opened at $29.10, up 9.63 percent in the past year.

The SEC filing notes, "as the company has previously reported, the company’s chief executive officer has declined to accept the compensation committee’s offer of a bonus and a salary increase each year since the company’s 2001 fiscal year, except for a bonus for the 2008, 2009 and 2010 fiscal years, which he donated to charity," the SEC filing says.

"The company’s chief executive officer has stated that he intends to donate the 2011 fiscal year bonus to charity."

Newsday in 2009 spoke to Shore about his donations. In a brief item titled "Ditching the bonus culture," he said, "It's a personal decision... It's between me and the big man upstairs." He declined to name the charity.

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