NEW YORK (AP) — The compensation of Wal-Mart Stores Inc. CEO Mike Duke increased 14 percent to $20.7 million in 2012, mainly because his performance-based cash bonus swelled, according to an Associated Press review of the retailer's regulatory filing.
Duke received a base salary of $1.3 million, up 4 percent from the year-ago period. His stock awards of $13.6 million rose 4 percent from the previous year. But Duke's performance-based cash bonus rose to $4.4 million in 2012, up from $2.9 million in the previous fiscal year.
The AP calculation is based on a regulatory filing. It aims to isolate the value that company boards place on CEOs' total compensation package. It includes salary, bonus, incentives, perks and the estimated value of stock operations and awards.