Walmart execs awarded 97,713 shares of restricted stock at year-end

The top eight Walmart officers received deferred compensation at the end of calendar 2017 totaling 97,713 shares of restricted stock. The price associated with these awards was $98.75, the closing share price on Dec. 29. The value of the restricted stock at the time of award was $9.649 million.

The restricted stock will vest on Jan. 31, 2021 and be available for the recipients to trade after that time. Deferred compensation is a common form of payment to executives that helps them accumulate shares in their employer company, giving them a vested interest at a future date.

Walmart recently made the following restricted stock awards.

Doug McMillon, CEO of Walmart Inc.
35,075 shares restricted stock vesting January 2021, valued at $3.463 million

Greg Foran, CEO of Walmart U.S.
14,833 shares restricted stock vesting January 2021, valued at $1.464 million

Marc Lore, CEO of Walmart U.S. e-commerce
13,692 shares of restricted stock vesting January 2021, valued at $1.352 million

John Furner, CEO of Sam’s Club
13,692 shares of restricted stock vesting January 2021, valued at $1.352 million

Brett Biggs, CFO of Walmart Inc.
9,694 shares of restricted stock vesting January 2021, valued at $957,282

Jacqueline Canney, executive vice president of Human Resources
3,994 shares of restricted stock vesting January 2021, valued at $394,408

Dan Barlett, executive vice president of Corporate Relations
3,994 shares restricted stock vesting January 2021, valued at $394,408

David Chojnowski, executive vice president-Corporate Controller
2,739 shares of restricted stock vesting in 2020 and 2021, valued at $270,476

BOARD PAYMENT
Walmart also requires its board members to own stock up to five times the value of their annual retainer fee within five years of joining the board. It’s a requirement that’s not common, according to Alan Ellstrand, corporate governance expert at the University of Arkansas.

He said having directors own a stake in the company hasn’t always been popular but it’s now a growing trend. Ellstrand gives Walmart credit for trying to ensure its board who sets policy is more closely aligned with shareholders.

“It seems like a good practice to me, it probably means more on paper than in reality, but overall having a board that is vested is probably a good move,” he said.

Walmart paid out compensation in the form of shares to six board members totaling around $250,000 in combined value on Dec. 31. The following stock awards were given to directors according to filings with the SEC. The stock awards were in lieu of cash payments to some of the directors.

Steuart Walton
228 shares valued at $22,515

Kevin Systrom
278 shares valued at $27,453

Greg Penner, board chairman
481 shares valued at $47,499

Marissa Mayer
228 shares valued at $22,515

Carla Harris
114 shares valued at $11,258

Timothy Flynn
1,203 shares valued at $118,796