The trio of Nordstrom Inc. copresidents — Blake, Peter and Erik Nordstrom — each drew total compensation of about $5.6 million last year.
The brothers, who are great-grandsons of the company’s founder, John W. Nordstrom, were part of the family group that tried to take the company private, but came up short amid a difficult financing environment. Each of the executives drew a salary of $771,142, stock and option awards valued at $2.4 million — and subject to market fluctuations — and incentive pay of $1.4 million, according to filing with the Securities and Exchange Commission.
Also tallied in their compensation was their merchandise discount of 33 percent on goods purchased at Nordstrom and 20 percent at Nordstrom Rack stores. Blake received a total discount of $37,539, while Erik’s was $30,753 and Peter’s was $9,529.
Under SEC rules, the company also identified the median pay for all employees, other than Blake Nordstrom, who ranks as principal executive officer.
The worker in the middle of the bell curve at Nordstrom was paid $30,105 — putting the top executive’s pay at 187 times the median. About 56 percent of the retailer’s 70,000-strong workforce was either part time or seasonal, pulling the median pay down to $30,105.
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