Dollar Tree Chairman Requests Pay Cut

New York City Dollar Tree Inc. on Friday reduced the salary of its chairman Macon Brock, at his request.

According to a filing with the Securities and Exchange Commission, Brock will now earn $200,000. Brock's salary was $400,000 in 2006, based on the company's most recent regulatory filing regarding executive compensation.

He will also receive options for 21,000 shares of stock.

Based on Thursday's closing price of $30.82, Brock's options are worth $647,220.