The cash compensation of Dillard’s Inc.’s two top executives dropped 4.8 percent last year while their total pay packages were cut by more than half because of accounting adjustments.
The salary of William Dillard 2nd, chief executive officer, rose to $950,000 from $900,000 while his cash bonus, or nonequity incentive plan compensation, contracted 7.6 percent to more than $3 million from more than $3.2 million a year ago, putting the cash total at nearly $4 million, from more than $4.1 million in 2011. His stock awards grew 14 percent to $6.9 million from $6 million, and other compensation was up 17.1 percent to $253,000.
However, reported compensation fell 58.5 percent to $4.9 million from $11.8 million a year ago, principally because no “change in pension value and nonqualified deferred compensation” was reported. Last year that column of Dillard’s compensation table included a $6.8 million change.
Alex Dillard, president of the Little Rock, Ark.-based company and William’s brother, had a 5.7 percent increase in salary to $920,000 and a 7.6 percent decline in cash bonus, identical to his brother’s at $3 million. The brothers’ stock awards were virtually identical. The pension value change column was empty, versus a $7.8 million adjustment last year, putting total compensation at $4.8 million, down 61.9 percent.
The brothers were each entitled to 30 percent of a cash bonus pool of $10 million based on a formula incorporating 2012 pretax income and the increase in pretax income over the prior year. Pretax income last year was $481 million, up 19.8 percent over 2011.
The figures were reported in Dillard’s definitive proxy, filed with the Securities and Exchange Commission on Friday. Stock awards aren’t necessarily realized by the executives because of fluctuating stock values and vesting schedules but are reported to the SEC at grant date fair value.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)