Target CEO Brian Cornell’s compensation surged to $77.5 million in 2020.
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According to a proxy filing by the retailer, Cornell received a total compensation package of about $19.8 million, an increase of about 4.3% year-over-year. Cornell’s base salary remained unchanged from the previous year at $1.4 million. However, he earned a $1.12 million incentive bonus tied to the company’s sales and income performance and $4.48 million for a non-equity incentive plan.
The majority of Cornell’s compensation came from long-term equity awards that were either vested or exercised in 2020, which had a combined worth of $70 million. About $40.8 million came from restricted stock that was vested in 2020, while another $29.2 million came from options that were exercised.Fox Business