
Walmart Inc. President and CEO C. Douglas McMillon saw his total compensation increase 2.1% to $22.6 million for the fiscal year that ended Jan. 31 compared with the previous year.
McMillon, who has been head of the Bentonville retailer since February 2014, received stock awards of $15.8 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 dip from last year.
Most of McMillon’s total compensation includes the stock awards of $15.8 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 associate was $20,942, a decrease of 6.86% from the previous year. The ratio of McMillon’s total compensation to the median associate’s was 1,078-to-1.
For the second year in a row, Walmart said it would not hold its annual employee celebration event, which typically attracts thousands of employees from all over the world to Fayetteville, due to the COVID-19 pandemic. A virtual annual shareholders’ meeting is scheduled for June 2 at 10:30 a.m. Walmart will also hold a virtual “associate celebration” on June 4, with entertainment and messages from senior executives.
The proxy also showed that M. Brett Biggs, Walmart’s chief financial officer, had total compensation of $9.1 million, an increase of 3.7% from the previous year. He had a salary of $934,721, stock awards of $5.8 million and a bonus of $1.8 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 officer, had total compensation of $11.7 million, a steep drop from last year when it was $45.9 million. The bulk of the compensation that year, $43.6 million, came from stock awards. Kumar’s salary during the fiscal year that ended Jan. 31 was $1 million, a 77% increase from the previous year.
John R. Furner, president and CEO of Walmart U.S., had a compensation package worth $11.3 million, which was up from $9.9 million the previous year. His salary increased 11.4% to $944,567 and he received $7.7 million in stock options and a $2.1 million bonus.
Judith McKenna, president and CEO of Walmart International, had a compensation package worth $12 million, which was down from $12.2 million the previous year. Her base salary was $1.09 million, and she had stock awards worth $7.2 million and a bonus of $2.5 million.
Kathryn McLay, president and CEO of the Sam’s Club division, had total compensation of $12.96 million, a drop of 4% from the previous year. The majority of her compensation came from stock awards of $10.2 million. Her base salary jumped from $640,409 to $780,000.