Total compensation: $24,503,466 for the year ended Feb. 2
Nonequity incentive pay: $4,240,650
Other compensation: $207,497
Value realized on vesting shares: $18,780,319
New stock options: 103,981
Median employee pay: $28,500
CEO pay ratio: 605:1
Total fiscal 2018 shareholder return: -2%
Note: Joly and other executives earned incentive awards that were 166% of base levels because income, sales performance and operational targets were largely above goal during the last fiscal year. Joly said last month that the company is more than a year ahead of goals set in Best Buy 2020: Building the New Blue, a 2017 plan focusing on strategic growth initiatives.
Still, Joly's bonus of $4.2 million was about 8% less than the previous year.
The bulk of Joly's realized compensation last year was from $18.8 million worth of previously issued restricted stock awards that vested during the year.
Best Buy announced on April 15 that Joly would transition from chairman and CEO of the Richfield-based retailer to a new role as executive chairman. Corie Barry, currently the company's financial and strategic transformation officer, will become CEO after the company's annual meeting on June 11.
When Joly becomes executive chairman, he will see a reduction in his base salary to $650,000 per year and will be eligible for smaller short-term and long-term incentive awards. Barry will see a corresponding increase to her salary and incentive awards.
Joly joined Best Buy in August 2012 during a time of company turmoil and has guided the company through strategic changes to more solid footing since.