One won’t find Richard Hayne’s name on a list of chief executive officers who make thousands of times more than their average employees.Hayne, chairman, president and ceo of Urban Outfitters Inc., earned just $33,273 last year, according to the company’s definitive proxy filing with the Securities and Exchange Commission Tuesday, and that was a 7.3 percent increase from his 2011 compensation of $31,015.Since 2009, Hayne has drawn a salary of $1 a year, even after returning to the ceo post following Glen Senk’s resignation as ceo of Urban early last year to take the same role at David Yurman Inc. As in the two prior years, Hayne collected a $5,000 holiday bonus but received no stock or option awards. The remaining $28,272 of Hayne’s compensation — 85 percent of the total — came in the “all other compensation” column of Urban’s compensation table and consisted solely of premiums paid by the company for automobile and life insurance policies.RELATED STORY: Blake Nordstrom's Pay Declines in 2012 >>Hayne collected a cash bonus of $420,000 in 2010 but hasn’t collected one since. Last year the company fell just short of the mark where such a bonus would have been activated. To qualify, revenues needed to reach $2.83 billion and operating income $377.1 million. Instead, the Philadelphia-based specialty retailer recorded revenues of $2.79 billion and operating profits of $374.3 million, which, while insufficient to trigger a cash payout, represented respective increases of 13 percent and 31.5 percent.The ceo has more than a passing interest in seeing the company grow. With more than 27.4 million shares, 18.8 percent of the total outstanding, his stake in the firm is worth just nearly $1.1 billion and has shared in the escalation of retail stocks in the past year. On Tuesday, shares closed at $39.87, up $1.46 or 3.8 percent, and 35 percent higher than their close at $29.54 one year ago.RELATED STORY: Urban Outfitters Profits Double >>Hayne’s bonus was tied solely to corporate performance while other listed executive officers in the proxy were compensated on the basis of divisional performance, the achievement of specific goals or both. Ted Marlow, who returned to the company last year as ceo of the Urban Outfitters brand, earned just more than $1 million, including $597,000 in stock and option awards and $76,000 in a cash bonus. David McCreight, ceo of Anthropologie, took in $2.5 million, making him the highest paid of the five listed executive officers in the proxy. His total compensation was 44.8 percent below the prior-year level, as his $1.4 million cash bonus failed to offset the absence of stock and option awards, which in 2011 totaled $4.2 million.Because of fluctuating stock prices and vesting schedules, stock and option awards aren’t necessarily realized by the executives listed as receiving them but, as required by the SEC, are reported by their employers at grant date fair value.According to the proxy, Margaret Hayne, president of Free People and the ceo’s wife, earned $451,000 last year, while Hayne’s son David earned $415,000. Hayne founded Urban Outfitters in 1970 and has served as its chairman and president since 1976.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim