77.4 F
San Diego
Sunday, Sep 25, 2022
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PROXY–PriceSmart Inc.

PriceSmart, Inc. owns and operates merchandising businesses. The company’s primary business is international merchandising consisting of membership shopping warehouses.

Value

Total number of shares outstanding as of March 10, 2000 5,100,000

Price of each share of common stock on March 10, 2000 $41.00

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Aggregate market value as of March 10, 2000 $209,100,000.00

Performance Record

For year ended, Aug. 31, in thousands, except per-share data

1999 1998 1997

Revenues $108,872 $97,188 $74,375

Net income (loss) $(3,892) $3,028 $(24,843)

Net income (loss) per share $(0.76) $0.50 $(4.20)

Total assets $152,074 $124,576 $125,885

Directors

Robert E. Price, 57, has been chairman since July 1994, and he served as president and CEO from July 1994 to January 1998.

Gilbert A. Partida, 37, has been director since July 1997 and has been president and CEO since January 1998.

Rafael E. Barcenas, 55, has been director since April 1998. He also has been director of PriceCostco de Panama, S.A., and P.B. Real Estate, S.A.

Katherine L. Hensley, 62, has been director since July 1997. She is a lawyer and retired partner of the law firm of O’Melveny & Myers.

Leon C. Janks, 50, has been director since July 1997. Since 1980, he has been a partner of Alder, Green & Hasson, an accounting firm. He also serves on Expert Ease Software, Inc.

Lawrence B. Krause, 69, has been a director since July 1997. Since 1986, he has been a professor and director of Korea-Pacific Program at the Graduate School of International Relations and Pacific Studies at the University of California, San Diego.

James F. Cahill, 44, has been director since November 1999. Since 1987, he has been executive vice president of Price Entities.

Executive Compensation

Officers Cash Compensation

Gilbert Partida, president and CEO $356,862

Robert Gans, executive vice president, general counsel and secretary $175,000

Thomas Martin, executive vice president of merchandising $190,000

Kurt May, executive vice president and COO $226,539

Karen Ratcliff, former executive vice president of finance $168,500

Significant Stock Ownership

Number of shares Percent

Nov. 23, 1999

Sol Price 1,748,624 34.3

Robert Price 1,275,066 25.0

James Cahill 714,188 14.0

Performance Capital, LP 326,500 6.4

Wynnefield Partners Small Cap Value 320,900 6.3

All executive officers and directors as a group (10 persons) 1,650,754 31.2

OTHER INFORMATION

Headquarters: 4649 Morena Blvd., San Diego, CA 92117; (858) 581-4530; fax (858) 581-4500; (www.pricesmart.com)

Auditors: Ernst & Young LLP, San Diego

Information was compiled from the company’s annual and proxy reports.

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