Pay for Walmart’s top execs increases

Compensation packages for Walmart Inc.’s top executives in fiscal 2019 showed an overall increase from the previous year’s in the Bentonville retailer’s annual proxy statement filed Tuesday with the U.S. Securities and Exchange Commission.

Chief Executive Officer Doug McMillon earned $22.5 million in total compensation, according to the proxy statement. His pay rose nearly 23 percent from the year before.

McMillon’s financial package included $1.3 million in base salary, virtually unchanged from a year ago, and about $15.6 million in stock awards. He also earned nearly $5.1 million in nonequity incentives.

The Arkansas DemocratGazette follows a formula developed by The Associated Press that reflects amounts identified in proxy statements that are actually paid to executives. The formula does not account for change in pension value and nonqualified deferred compensation earnings.

Walmart listed McMillon’s compensation as $23.6 million. His compensation ratio was 1,076:1, with the median pay for company employees at $21,952 in fiscal 2019, a disclosure required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Brett Biggs, the retailer’s chief financial officer, earned $9.2 million; Greg Foran, chief executive of Walmart U.S., earned $13.5 million; Judith McKenna, chief executive of Walmart International, earned $12.8 million; and John Furner, chief executive of Sam’s Club, earned $9.2 million.