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Gregg Steinhafel

Glen Stubbe, Star Tribune

CEO Pay Watch: Target's Gregg Steinhafel: $23.4 million

  • April 30, 2013 - 5:44 AM

Gregg Steinhafel, Target Corp. chairman, president, CEO

Total compensation: $23,472,082 for the year ended Jan. 31, 2013

Salary: $1,500,000

Non-equity incentive pay: $2,880,000

Other compensation: $5,068,118

Exercised stock options: $7,706,708

Value realized on vesting shares: $6,317,256

New stock options: 544,486

Total return to shareholders: 21.5 percent

Note: Steinhafel’s total compensation for the year increased 21.9 percent, mainly due to $14 million realized during the year from gains on stock options and stock awards. Steinhafel’s other compensation includes $4.6 million in supplemental pension plan credits — that amount is credited to a deferred compensation account for Steinhafel.

Steinhafel’s annual salary remained the same but the bonus increased 30.6 percent to $2.9 million as the company exceeded its incentive goals for the year. For the first time the costs related to Target’s launch into Canada were included in the calculations for determining annual incentive goals.

Steinhafel did not get a discretionary bonus from the board as he has in years past. The company eliminated that option for the CEO this year, replacing it with a performance-linked, long-term incentive plan.

Patrick Kennedy

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