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But nepotism, young Par learned recently, isn't without its downsides. Under rules designed to protect shareholders, Knight Ridder is required to disclose compensation figures for family members of company office holders. In other words, folks like Par. Consequently, after Knight Ridder released its proxy statement last month, rank-and-file Pi Press employees learned for the first time what their leader actually earns.
Par, it turns out, is making pretty nice coin: In 2004, he hauled in $394,045 in annual salary, plus a quarter-million-dollar "relocation bonus" to cover his moving expenses. If he has a few bucks left over, this might be a good year to send Dad an extra nice Father's Day card.