Walmart top execs receive deferred compensation bonuses worth $39 million

Walmart’s top eight executives recently received a second round of deferred compensation bonuses worth an estimated $39 million based on financial performance in fiscal 2018.

The restricted stock payment and vesting of previously restricted shares reported to the Securities and Exchange Commission follow 97,713 shares of restricted shares awarded to the same eight executives in January.

Walmart Stores has touted the myshare bonuses paid to store employees and committed additional bonuses ranging from $200 to $1,000 based on years of service. Walmart said $400 million of the $700 million in estimated tax savings resulting from federal tax rule changes went to its employees in the form of bonuses, with the remaining $300 million used to raise the starting wage from $10 to $11. The bonuses were paid last week across the country.

This round of deferred equity compensation totaled 437,679 shares of restricted stock that will fully vest on Jan. 31, 2020, as long as the executive remains employed by the retailer. The payments made to the top executives at Walmart are in addition to cash bonuses and salary which will be reported in mid-April when the annual Proxy is filed with the SEC. The restricted stock was awarded on March 9.

Following is award information and ownership details for the executives.

Doug McMillon, CEO of Walmart Stores
Restricted stock award: 230,543 shares
Vesting shares from prior years:152,915 valued at $13.696 million
Sold 70,724 shares worth $6.218 million to cover tax obligations for the vested shares.
Owns 1,246,237 shares worth an estimated $111.613 million.
Owns 1,699 shares in his 401(k)
Owns 155,327 shares in trusts for his wife and children worth $13.911 million.

Brett Biggs, chief financial officer
Restricted stock award: 49,149 shares
Vesting shares from prior years: 41,691 shares
Sold 3,180 shares worth $279,800 to cover tax on vesting shares
Owns 204,758 shares valued at $18.338 million
Owns 387.58 shares in a 401(k)

Greg Foran, CEO of Walmart U.S,
Restricted stock award: 100,842 shares
Vesting shares from prior years: 64,630 shares
Sold 33,537 shares to cover tax withholding on the vesting shares.
Owns 259,990 shares valued at $24.180 million

Marc Lore, CEO of Walmart U.S. e-commerce,
Restricted stock award: 93,705 shares
Owns 3,388,243 shares worth an estimated $303.451 million.

John Furner, CEO of Sam’s Club
Restricted stock award: 95,565 shares
Vesting shares from prior years: 88,603 shares
Sold 40,979 shares valued at $3.602 million to cover tax obligations from the vesting shares.
Owns 190,499 shares worth an estimated $17.061 million.
Owns 1,660 shares in 401(k)

Judith McKenna, CEO of Walmart International since Feb. 1
Restricted stock award: 26,669 shares from her role as chief operating officer at Walmart U.S.
Vesting shares from prior years: 16,000 shares
Sold 8,506 shares worth $748,528 to cover taxes on vesting shares
Owns 129,123 shares valued at $11.564 million.

Daniel Bartlett, executive vice president of corporate relations
Restricted stock award: 29,995 shares
Vesting shares from prior years:14,923 shares
Sold 6,902 shares for $606,823 to cover tax obligations of vesting shares
Owns 89,384 shares of Walmart valued at $7.986 million

Jacqueline Canney, executive vice president of people division
Restricted stock award: 29,995 shares
Vesting shares from prior years: 25,688 shares
Sold 11,881 shares to cover taxes for the vesting shares.
Owns 66,856 shares worth $5,987 million.

David Chojnowski, senior vice president and controller
Restricted stock award:11,759 shares
Vested shares from prior years: 2,184 shares
Sold 1,298 shares valued at $114,163 to cover tax on vesting shares
Owns 27,056 shares worth $2.434 million