By  on April 3, 2013

Terry J. Lundgren weathered a 21.6 percent drop in total compensation last year — and saw the cash portion of it drop by nearly half — as Macy’s Inc. fell short of its target for sales and missed the threshold under which a bonus for cash flow would have been triggered.

Lundgren, chairman, president and chief executive officer of Macy’s, was reported to have garnered $13.8 million in total compensation last year, down from $17.7 million in the prior year. While his stock and option awards dipped a fraction, rounding off to $7.7 million for both periods, the cash component fell 47.4 percent to $3.5 million from $6.6 million in 2011.

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