Nordstrom Details Executive Compensation in Proxy
The three copresidents of Nordstrom Inc. — Blake, Peter and Erik — each ended 2016 with total compensation in the range of $5.8 million. That’s more than double the $2.6 million that each received in 2015.
All three had the same base salary of $751,152, along with stock awards of $1.6 million, option awards of $1.4 million and non-equity incentive plan compensation of $1.2 million. Slight differences for each one were in the change in pension value and nonqualified deferred compensation earnings and for other compensation. As for the latter, the company match for the 401(k) plan was the same at $15,900, as was the $565 paid for life insurance premiums. What was different for each was the value of merchandise discounts: $33,246 for Blake Nordstrom; $22,720 for Peter Nordstrom, and $29,757 for Erik Nordstrom.
Compared with 2015, stock awards jumped 80 percent from $906,175, while options awards rose 59 percent from $906,232. Non-equity incentive plan compensation cash awards under the executive management bonus plan were not given in 2015.
The compensation amounts were detailed in the company’s proxy filing — Form DEF14A — filed on Wednesday. The company’s annual shareholders’ meeting is scheduled for May 16 at 11 a.m., Pacific Daylight Time, at the downtown Seattle Nordstrom.
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