WMT - Walmart's Store Managers Stand To Gain $20K In Stock Annually Exceeding $525K In Total Compensation | Benzinga
Store managers at retail giant Walmart Inc (NYSE:WMT) are soon to receive annual stock grants valued up to $20,000, a decision that could potentially push the highest earners’ total compensation above $525,000.
What Happened: Walmart unveiled these stock grants after considerable pay and bonus raises earlier this month. The grants, which are a part of the compensation packages for store managers, will start in April, As reported by Business Insider on Tuesday.
John Furner, President and CEO of Walmart’s U.S. division, stated, “A Walmart store manager is running a multi-million dollar business and managing hundreds of people.” The grant amount will hinge on the size of the store, with varying ranges for Hometown, Neighborhood Market or Division 1, and Supercenter managers.
Along with the stock grants, a new salary and bonus structure will be put into effect from Thursday, Feb. 1. This restructuring will bolster the average base salary for U.S. store managers to $128,000, a significant rise from the previous $117,000.
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The revamped plan also hikes the maximum bonus from 1.5x to 2x the annual salary, emphasizing store profitability ...