Steak n Shake gives CEO Biglari big raise

INDIANAPOLIS At a time when executive compensation is coming under increasing scrutiny, the Steak n Shake Co. has bumped chief executive Sardar Biglari’s salary by more than 220 percent.

The company’s board of directors voted unanimously to raise Biglari’s annual compensation to $900,000 from $280,000, effective June 19. In its Securities & Exchange Commission filing, the company said Biglari doesn’t have an employment agreement and doesn’t receive separate pay for

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