- Founder of Barnes & Noble to bid for chain’s retail assets
- J.C. Penney pins future on new, three-tiered pricing strategy and in-store shops
- Ackman’s Pershing Square will back Borders' bid for Barnes & Noble
- Apple’s Ron Johnson to become CEO of J.C. Penney
- Barnes & Noble reports breach of customer credit data at stores
New York -- Barnes & Noble CEO William Lynch was compensated $10 million in 2011, compared to $1.6 million in 2010, according to a report by the Associated Press.
The difference is due to a large stock option grant, reported AP, as Barnes & Noble compensated Lynch for expanding the retailer’s digital business. However, an SEC filing revealed the retailer planned to pay Lynch double the $5.3 million in stock options it granted, but found it couldn't due to its 2009 incentive plan rules.
Lynch was paid a base salary of $1.1 million, up 22% from his base salary of $900,000 last year. He received a $450,000 bonus and other compensation of $32,750 for insurance and retirement payments, a car allowance and relocation costs. His stock awards were worth $3.1 million and stock options were worth $5.3 million.