Wal-Mart Stores Inc. revealed in its proxy statement last week that it paid about $1.9 million to the University of Arkansas in the retailer’s fiscal year that ended Jan. 31.
About $900,000 went to cover the use of the UA’s grounds for Wal-Mart’s 2015 annual shareholders’ meeting.
Wal-Mart expects to make a similar payment to the UA this year.
Wal-Mart has to disclose its dealings with the UA because former Chancellor G. David Gearhart is the brother of Jeffrey J. Gearhart, a Wal-Mart executive.
This may be the last time we get this information. David Gearhart retired July 31, 2015.
Flying the Friendly Skies
Wal-Mart’s proxy also includes the value of the personal travel taken on the retailer’s aircraft.
The top user was the top dog, President and CEO C. Douglas McMillon. His personal use totaled $113,738. That was up 38 percent from the previous year.
Gregory Foran, CEO of Walmart U.S., reported aircraft use valued at $105,031, more than four times his total the previous year.
Use of the company plane by Rosalind Brewer, president and CEO of Sam’s Club, totaled $100,677 in the fiscal year that ended Jan. 31. That’s up 20 percent from the previous year.