COMPENSATION DECLINES AT BELK: Thomas M. Belk Jr., chairman and chief executive officer of Belk Inc., saw a 22.3 percent decline in total compensation for 2011 to $4.7 million from $6 million a year ago, due primarily to a decrease in stock awards. The base salary was $986,552, with a bonus of $1.4 million. The value of stock awards fell to $2 million from $3.6 million in 2010.
John R. Belk, president and chief operating officer, saw his total compensation fall 28.3 percent to $2.8 million in 2011 from $3.9 million in 2010. His base salary was $821,012, with a bonus of $657,667. The value of stock awards last year was $1 million, down from $2.3 million in 2010.
This story first appeared in the April 24, 2012 issue of WWD. Subscribe Today.
Belk Inc. is holding its annual meeting of stockholders on May 30 at 11:00 am at the Mint Museum Uptown in Charlotte, N.C.