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
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.
© 2013 Star Tribune