Seems like this spring brought a shower of uncertainty to everyone except executives in big corporations.
On Tuesday May 12t, J. C. Penney Company, Inc. (NYSE: JCP) announced that they will “continue to motivate its named executive officers (“NEOs”) and other employees through the volatile and uncertain environment affecting the retail industry”.
One of those executive officers is CEO Jill Soltau. “These are difficult days all across the country and the globe. At JCPenney, we are making tough, prudent decisions to protect both the safety of our associates and the future of our Company,” said Soltau back in March
Difficult days need a difficult decision.
According to the SEC filing reviewed by Idaho Reporter, Jill Soltao is to be awarded with $4,500,000 and the filing said that”such award will be paid immediately“.
Besides CEO, a number of other execs (NEOs) will get$1,000,000 , namely:
-Bill Wafford, Executive Vice President and CFO
-Michelle Wlazlo, Executive Vice President, Chief Merchant, and
-Brynn L. Evanson, Executive Vice President, Chief HRO.
This decision is approved by the Board of Directors of J. C. Penney Company, Inc. upon recommendation of its Human Resources and Compensation Committee “which recommendation was made after extensive consultation with the Company’s legal and compensation advisors”.