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.”
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.