Target’s Gregg Steinhafel Sees 4.8% Pay Raise

Stock and option awards boost ceo’s pay.

Gregg Steinhafel, chairman, president and chief executive officer of Target Corp., saw his total compensation grow 4.8 percent to $20.6 million last year.

This story first appeared in the April 30, 2013 issue of WWD.  Subscribe Today.

Nearly half of Steinhafel’s pay, or $10.5 million, came in the form of stock and option grants, the full value of which might not be realized given vesting schedules and stock price changes.

The ceo also received a salary of $1.5 million, cash incentive pay of $2.9 million and other compensation totaling $5.1 million. His take included $125,473 in personal use of company-owned aircraft, for which the company cited “security reasons.”

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Total pay for Kathryn Tesija, executive vice president of merchandising and supply chain, increased 18.8 percent to $7.2 million.

Compensation last year for the six current and former executives detailed in Target’s proxy statement totaled $46.7 million. Companies log executive compensation with the Securities and Exchange Commission prior to their annual meetings each year.