NEW YORK, United States — Wal-Mart Stores Inc. executive Marc Lore reaped an astronomical $243.9 million in compensation last year, fuelled by shares he received as part of the sale of his company to the retail giant.
The package included restricted stock worth $236.3 million, which came as part of the buyout of his company, Jet.com, according to a regulatory filing Thursday. Those shares will vest monthly through September 2021. He also received about $7.55 million in salary, stock awards and perks.
The compensation puts Lore well ahead of his boss, Walmart chief executive officer Doug McMillon, and vaults him into the ranks of America’s top-paid executives.
McMillon got a $22.4 million pay package, up from $19.8 million in the prior year.
By Anders Melin and Lisa Du; editors: Brandon Kochkodin, Nick Turner.