Brian Cornell, Target chairman and CEO
Total compensation: $19,153,827 for the year ended Feb. 3, 2018
Nonequity incentive pay: $4,836,000
Other compensation: $263,208
Value realized on vesting shares: $12,754,619
Total 2017 shareholder return: 18.57 percent
CEO pay ratio: 408:1
Median employee pay: $20,581
Note: Target, which had low expectations going into last year, ended up performing better than expected as overall consumer spending improved. CEO Brian Cornell’s compensation for the last fiscal year of $19.2 million was much higher than the previous year’s $9.1 million. That is a reflection of a $4.8 million bonus (the previous year he received no such bonus) and that he realized more vested shares than in 2016.
The board recently changed the timing of when it makes stock awards until after the fiscal year ends so they were not reflected in 2017. If those awards are considered, the CEO pay ratio would rise to 657:1. While the company’s better-than-expected performance warranted a full payout, the board decided to reduce it by 28 percent, feeling it would be premature to give a full payout since the company is still in the early stage of a multiyear plan.