Gap Inc.’s chief executive officer Arthur Peck saw his compensation package jump 75 percent last year.
For 2015, Peck’s total compensation was $6.1 million, compared with $3.5 million in 2014. Peck saw his annual base pay rise 37.8 percent to $1.3 million from $943,269 in 2014. Peck, a 10-year veteran at Gap, became ceo in February 2015. Before taking on the ceo post, he was Gap’s president of growth, innovation and digital. In 2015, he also received stock awards totaling $2.7 million and option awards totaling $2.1 million. The balance was lumped as other compensation, such as a 401(k) plan match and premiums paid for disability and life insurance benefits.
The proxy also detailed Stefan Larsson’s compensation through October 2015, which was $5.7 million, compared with a total pay package of $4.5 million in 2014. Larsson was the former global president of Old Navy. He left to Gap to become ceo at Ralph Lauren Corp.
Gap will hold its annual shareholders’ meeting on May 17, in San Francisco at Gap’s headquarters at Two Folsom Street.
The information was detailed in a proxy filed by Gap, or Form DEF 14A, with the Securities and Exchange Commission on Tuesday.