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Dillard Family Reports Lower Compensation in 2015

3 min read

Dillard family members who work at Dillard’s Inc. of Little Rock saw their total compensation packages shrink in 2015.

Together, the nine Dillard family members had a total compensation of $12.3 million in 2015, according to the annual proxy statement released Monday. For the previous year — when they were eight family members on the payroll — they were paid a total of $13.9 million.

The proxy announced the date and time for the department store chain’s annual shareholder’s meeting: 9 a.m. on May 21 at the corporate headquarters, 1600 Cantrell Road in Little Rock.

None of the six named executive officers — CEO William Dillard II, President Alex Dillard, Executive Vice Presidents Mike Dillard and Drue Matheny and Senior Vice Presidents Chris B. Johnson and Phillip R. Watts — exercised stock options in 2014.

William Dillard II and his brother Alex Dillard kept the same base salary of $1 million in 2015. But their brother and sister, Mike Dillard and Drue Matheny, saw their base salaries rise to $735,000 from $710,000 in 2014.

Some compensation highlights:

  • William Dillard II’s base salary remained at $1 million. His total compensation dropped from $3.9 million in 2014 to $3.3 million in 2015. Most of the decline was tied to a drop in his bonus, from $2.45 million in 2014 to $1.8 million in 2015. The value of his stock award, though, increased to $207,296 from $203,418 the previous year.  
  • Alex Dillard’s base salary also remained at $1 million. His total compensation fell to $3.3 million in 2015 from $3.9 million the previous year. Like his older brother’s, his compensation package included a $1.8 million bonus and stock awards valued at $207,286.
  • Mike Dillard’s total compensation also declined from 2014. His slipped from $2.02 million to $1.8 million. His stock awards were worth $107,595 (down from $104,134). His bonus was $799,800.  
  • Matheny’s total compensation totaled $1.8 million in 2015, down from $1.98 million the previous year. Her bonus and stock awards were the same as Mike Dillard’s.
  • Johnson, a non-family member among the named executive officers, earned a base salary of $500,000 and a bonus of $246,050. His total compensation was $915,812.
  • Watts, who also isn’t a family member, also had an identical base salary and bonus that Johnson received. Watts’ total compensation, though, was $1 million because the value of his pension increased $154,139, compared to Johnson’s $37,443.

Johnson and Watts’ salary information in 2014 wasn’t listed in the proxy because they weren’t named executive officers at that time.

The proxy also reveals the compensation packages of five other members of the Dillard family:

  • Denise Mahaffy, sister of William, Alex and Mike Dillard and Drue Matheny, was paid a salary and bonus of $747,000 as a senior vice president, plus $77,449 in unspecified benefits. She was also awarded a bonus of $246,050, which was paid on Friday.
  • William Dillard III, son of the CEO, was paid $736,000 in salary and bonus as a senior vice president, plus $76,834 in benefits. He was also awarded a bonus of $246,050, which was paid on Friday.
  • Alexandra Dillard, daughter of Alex Dillard, was paid $311,000 in salary and bonus as a divisional merchandise manager, plus $30,535 in benefits.
  • Annemarie Dillard, another daughter of Alex Dillard, was paid $288,000 plus $26,785 in benefits as a manager.
  • Michelle Dillard, another daughter of Alex Dillard, was hired in June 2015 at a base salary of $160,000.
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