TJX chief's pay deal is valued at $6.85m
NEW YORK - TJX Cos.' chief executive and president, Carol Meyrowitz, received compensation valued at $6.85 million last year, up 15 percent compared with the previous year, according to an Associated Press calculation of figures disclosed by the discount retailer in documents filed yesterday.
Meyrowitz received a base salary of $1.5 million, up more than 7 percent from the $1.4 million salary she received the year before, according to the Securities and Exchange Commission filing. She also received a performance-based cash bonus of $2.26 million and perks totaling a little over $43,000.
The biggest chunk of Meyrowitz's compensation came in the form of restricted stock and options, valued at $3.05 million on the days they were granted. However, stock options valued at $1.07 million when they were granted in September 2008 are currently of little value since their exercise price of $35.03 is above the stock's closing price yesterday of $27.