Wal-Mart Stores Inc. revealed in its latest proxy statement that it paid about $1.5 million to the University of Arkansas in the retailer’s fiscal year that ended Jan. 31.
Most of that money, about $900,000, went to cover the use of the UA’s grounds for the activities tied to Wal-Mart’s 2014 annual shareholders’ meeting.
Wal-Mart also made payments for academic studies and educational programs, according to the proxy.
Wal-Mart expects to make a similar payment to the UA to cover this year’s meeting.
Wal-Mart has to disclose its dealings with the UA because Chancellor G. David Gearhart is the brother of Jeffrey J. Gearhart, an executive officer for Wal-Mart. It’s unclear how much longer this nugget of information will be listed in the proxy. David Gearhart is retiring as chancellor on July 31.