EDDIE’S $1-PLUS PAYCHECK: Edward S. Lampert might have drawn a salary of just $1 for his first year as chief executive officer of Sears Holdings Corp., but the billionaire hedge fund operator also received stock awards valued at $4.3 million. That made Lampert, who is also chairman, the highest paid executive named in the company’s proxy statement, filed with the Securities and Exchange Commission Wednesday.
Total compensation among the company’s other top executives broke out as follows: Robert A. Schriesheim, executive vice president and chief financial officer ($1.5 million); Jeffrey Balagna, executive vice president and chief information officer ($3.6 million), and Ronald Boire, executive vice president, chief merchandising officer and president at Sears and Kmart ($1.3 million).
This story first appeared in the March 20, 2014 issue of WWD. Subscribe Today.
The company, which is in the process of spinning off Lands’ End, will hold its annual meeting on May 6.