Marvin R. Ellison, chairman and chief executive officer at Penney’s, saw a 15.4 percent increase in total compensation last year to $10.8 million from $9.4 million.
Year-over-year, his base salary was essentially flat at $1.45 million, as were stock awards of $5.25 million and option awards at $1.75 million. The big change was in non-equity incentive plan compensation, which was $2.1 million in 2017 versus $614,177 in 2016. The balance was attributed to other compensation, which includes health-care exams, aircraft usage and security services.
Penney’s has its annual meeting of stockholders set for May 25 at 10:00 at company headquarters in Plano, Tex.
Abercrombie & Fitch is planning its annual meeting of stockholders for June 14, at 10:00 at company headquarters in New Albany, Ohio.
The proxy said ceo Fran Horowitz saw a jump in total compensation to $10.3 million from $4.8 million in 2016. The increase reflects the change in her role at the company last year when she was named ceo on Feb. 1. Before being named ceo, Horowitz was president and chief merchandising officer for all company brands since Dec. 21, 2015.
Horowitz saw a slight uptick in base salary to $1.2 million from $1.1 million. She also saw a huge gain in stock awards to $7 million from $3.6 million. There were no option awards granted in either 2017 or 2016, and she received non-equity incentive plan compensation of $2 million in 2017, compared to zero a year ago. The balance was attributed to either a change in pension value and non-qualified deferred compensation earnings or other compensation.