For the first year since Camping World became a public company, CEO Marcus Lemonis will draw an annual salary.
The dealer chain filed a notice on Monday with the Securities and Exchange Commission announcing a new compensation agreement with Lemonis. The deal amends an agreement in place since 2016 when Camping World went public. The 2016 deal provided no annual salary to Lemonis, although he was eligible for performance-based stock compensation and other company benefits.
The new agreement runs from Jan. 1 to Jan. 1, 2028, with automatic one-year extensions. Lemonis will receive an annual base salary of $1.5 million with incentive bonuses of up to $2.25 million.
In the new employment agreement, Camping World granted Lemonis 600,000 restricted stock shares. The shares will vest in equal annual installments Nov. 15; Nov. 15, 2026; and Nov. 15, 2027. Lemonis also can earn up to 750,000 additional shares based on performance goals over the next three years.
Camping World shares were valued at $21.70 before Monday’s stock market opened. The 600,000 shares granted would be worth over $13 million at that price.
