GETTING PAID: Richard Hayne, chairman and chief executive officer of Urban Outfitters Inc., takes a token salary of just $1 a year, but even with relatively modest perks, managed to make 4.67 times the retailer’s median pay rate.
In addition to his salary, Hayne received a $5,000 bonus and $36,479 in other compensation, covering matching contributions under the company’s 401(k) plan and automobile and life insurance premiums. This past year, the ceo saw no other incentive pay besides his bonus, a drop from the prior year, fiscal 2017, but he managed to pull in $333,333 in incentive pay.
Hayne’s pay package was laid out in Urban Outfitters’ proxy statement with the Securities and Exchange Commission, which for the first time is requiring companies to lay out how much their ceo’s make compared with the median compensation across its workforce.
Hayne’s pay, by any measure, comes in on the low side compared with his ceo peers. He does own 15.5 percent of the retailer’s stock, valued at $621 million after shares slipped 5 cents to $36.91 Monday.
For comparison’s sake, Steven Rendle, chairman, president and ceo of VF Corp., reeled in total compensation, including stock options and awards, valued at $13.7 million last year.
Just how industry ceo’s stack up in the median pay ratio will become more clear as other publicly held companies reveal their executive pay stubs.
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