Posted 4/29/2013 12:00 am
Updated 10 months ago
The University of Arkansas at Fayetteville received $962,000 for leasing its space to Wal-Mart Stores Inc. during the company’s annual shareholders’ meeting in 2012.
Wal-Mart paid the UA a total of $2.3 million in its fiscal year that ended Jan. 31.
The figure was up 64.3 percent from the same time a year ago, according to the Bentonville retailer’s recent proxy statement.
That amount also includes $523,800 for academic studies and education services and another $553,000 in contributions and sponsorships.
Wal-Mart also said in the proxy that it will use the UA’s facilities in June for its annual meeting and pay the UA about the same as it did last year.
The company had to disclose these transactions because Jeffrey Gearhart, an executive officer at Wal-Mart, is the brother of UA Chancellor David Gearhart.