PVH PAYDAY: Performance-related stock and option awards boosted the compensation of PVH Corp. chief executive officer Emanuel Chirico more than 45 percent last year, to $12.4 million, while the cash portion of his pay package was virtually unchanged at $5.2 million. Chirico’s base salary rose 5.3 percent to $1.3 million, and his cash bonus was off 2.8 percent to $3.6 million while “other” compensation rose 1.8 percent to $192,000. But his stock awards essentially doubled, to $4 million from $2 million, and he received $1.9 million in option awards versus none in 2011. Because of vesting schedules and fluctuating stock prices, Chirico, who’s also chairman of PVH, won’t necessarily receive the awards, but, as required by the Securities and Exchange Commission, they were included at grant date fair market value in the company’s definite proxy, filed Monday.
The second-highest pay among PVH executives was reported for Fred Gehring, ceo of Tommy Hilfiger and PVH International, who earned $6 million, down 11.1 percent from 2011.
This story first appeared in the May 14, 2013 issue of WWD. Subscribe Today.