By Karen Talley
TJX Cos. (TJX) Chief Executive Carol Meyrowitz saw her
compensation package nearly double last year to $21.8 million,
according to a proxy filed with the Securities and Exchange
Commission.
Ms. Meyrowitz received a base salary of $1.4 million, $100,000
more than the prior year. In addition, she received $10.9 million
in stock awards after not getting any the year before. Stock option
awards were $655,000, down from $709,000 the prior year.
TJX has been on quite a run, posting solid results as it
benefited from the customer exodus at J.C. Penney Co. (JCP). TJX
shares rose 32% in 2012, and the company's net income jumped 27%
during that fiscal year. The company is seen keeping its momentum,
even as Penney works to win back customers.
Ms. Meyrowitz's non-equity incentive plan compensation, or the
cash part of her bonus, was $6 million after being $4.3 million the
prior year. All other compensation was $49,000, on par with the
prior year.
Change in pension value and nonqualified deferred compensation
earnings was $6.1 million, compared with $4.3 million the prior
year. The figure represents the change, over the fiscal year, in
the present value of her accumulated benefits under all defined
benefit plans.
In 2011, Ms. Meyrowitz's compensation was $11.1 million.
Write to Karen Talley at karen.talley@dowjones.com
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