Walmart Inc. President and CEO C. Douglas McMillon saw his total compensation increase nearly 14% to $25.67 million for the fiscal year that ended Jan. 31 compared with the previous year.
McMillon, who has been head of the Bentonville-based retailer since February 2014, received stock awards of $19.2 million during the fiscal year, according to the company's annual proxy statement filed Thursday with the Securities & Exchange Commission. McMillon received a $3.8 million bonus. His salary was $1.27 million, a slight increase from last year.
Most of McMillon's total compensation includes the stock awards of $19.2 million, which has not yet been earned or paid but will be determined based on Walmart hitting its goals.
The annual total compensation of Walmart's median employee was $25,335, an increase of 21% from the previous year. The ratio of McMillon's total compensation to the median employee's was 1,013-to-1.
For the third year in a row, a virtual annual shareholders meeting is scheduled for June 1 at 10:30 a.m.
The proxy also showed that Brett Biggs, Walmart's outgoing chief financial officer, had total compensation of $3.5 million, a decrease of 62% from the previous year. He had a salary of $994,345 and a bonus of $1.8 million. He received no money for stock awards, but the previous year he received $5.8 million.
Walmart's named executives won't own the stock awards listed until after a period of several years, and the stock awards are not part of an annual payout or vesting.
Suresh Kumar, the company’s global chief technology and development officer, had total compensation of $16.7 million, a 42% increase from last year. Kumar’s salary during the fiscal year that ended Jan. 31 was $1 million. His stock awards were worth $13 million, up from $8.4 million the previous year.
John Furner, president and CEO of Walmart U.S., had a compensation package worth $14.7 million, which was up from $11.3 million the previous year. His salary increased 15% to $1.09 million, and he received $10.6 million in stock options and a $2.4 million bonus.
Judith McKenna, president and CEO of Walmart International, had a compensation package worth $13.9 million, which was up from $12 million the previous year. Her base salary was $1.1 million, and she had stock awards worth $9.6 million and a bonus of $2.4 million.
Kathryn McLay, president and CEO of the Sam’s Club division, had total compensation of $11.5 million, a drop of 11% from the previous year. The majority of her compensation came from stock awards of $8.6 million. Her base salary increased from $780,000 to 4799,575.
