Proxy season has started again, with filings on Monday from J.C. Penney & Co. Inc. and Abercrombie & Fitch Co. detailing executive compensation for 2017.
Marvin R. Ellison, chairman and chief executive officer at Penney’s, saw a 15.4 percent increase in total compensation last year to $10.8 million from $9.4 million.
Year-over-year, his base salary was essentially flat at $1.45 million, as were stock awards of $5.25 million and option awards at $1.75 million. The big change was in non-equity incentive plan compensation, which was $2.1 million in 2017 versus $614,177 in 2016. The balance was attributed to other compensation, which includes health-care exams, aircraft usage and security services.
Penney’s has its annual meeting of stockholders set for May 25 at 10:00 at company headquarters in Plano, Tex.
Abercrombie & Fitch is planning its annual meeting of stockholders for June 14, at 10:00 at company headquarters in New Albany, Ohio.
The proxy said ceo Fran Horowitz saw a jump in total compensation to $10.3 million from $4.8 million in 2016. The increase reflects the change in her role at the company last year when she was named ceo on Feb. 1. Before being named ceo, Horowitz was president and chief merchandising officer for all company
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