Peck, who is president and chief executive officer, received a salary of $1.4 million, incentive pay of $4 million and other compensation of $107,574, including $36,734 for personal use of the retailer’s airplane, according to a regulatory filing.
The bulk of his compensation came from stock and option awards valued at $10 million, although the ultimate value of those awards depends on stock price fluctuations.
Last year, the overall company’s net profits rose 25.4 percent to $848 million as sales rose 2.2 percent to $15.86 billion.
That’s a big business, manned by 134,815 workers, most of whom are employed in the company’s stores.
In keeping with the new Securities and Exchange Commission rules, Gap tallied wages across its workforce, excepting the ceo and some foreign workers, and determined that its median pay last year was $5,375, for a part-time sales associate in Alabama. That means that half of the company’s employees made less than that in 2017.
Peck’s compensation weighed in at 2,900-times Gap’s median.