Gap Inc.’s chairman and chief executive officer, Glenn Murphy, received a 63.3 percent jump in total compensation in 2011 from the year before.
The ceo, who joined the firm in August of 2007, last year received total compensation of $9.7 million. That includes a base salary of $1.5 million, stock awards totaling $3.1 million and option awards of $3.1 million. His bonus was $1.7 million.
Murphy’s compensation was $5.9 million in 2010, with the increase last year due to a jump in stock awards and the granting of option awards.
His compensation was disclosed in the firm’s definitive proxy, which was filed with the Securities and Exchange Commission on Tuesday. The proxy also disclosed that the annual meeting for shareholders is set for May 15 at 10 a.m. at Gap’s headquarters in San Francisco.
The regulatory filing also disclosed that directors of the firm last year received an annual retainer fee of $70,000. Those on committees also received either an additional $10,000 or $20,000, depending on the committee served.
Domenico De Sole, former chairman of Tom Ford International and former president and ceo of Gucci Group, received a total director compensation package of $213,999, which includes stock awards of $124,999. He also sits on the compensation and management development committee.
Robert J. Fisher, former nonexecutive chairman of Gap and former Gap interim president and ceo, received $225,441, while William S. Fisher, who previously has held various positions with Gap, received $209,999. Most directors received stock awards valued at $124,999. Neither of the Fishers sit on any board committees.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
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