Costco CEO W Jelinek's 2021 pay rises 6% to $8.8M
Costco reports 2021 executive compensation
By ExecPay News
Published: December 6, 2022
Costco reported fiscal year 2021 executive compensation information on December 6, 2022.
In 2021, six Costco executives received on average a compensation package of $5.3M, a 3% increase compared to previous year.
Average pay of disclosed executives at Costco
W. Craig Jelinek, Chief Executive Officer, received $8.8M in total, which increased by 6% compared to 2020. 81% of Jelinek's compensation, or $7M, was in stock awards. Jelinek also received $157K of change in pension value and nonqualified deferred compensation earnings, $460K in non-equity incentive plan, $1M in salary, as well as $53K in other compensation.
For fiscal year 2021, the median employee pay was $45,294 at Costco. Therefore, the ratio of W. Craig Jelinek's pay to the median employee pay was 193 to one.
Richard A. Galanti, Chief Financial Officer, received a compensation package of $5M, which is about the same as previous year. 74% of the compensation package, or $3.7M, was in stock awards.
Joseph P. Portera, Chief Operating Officer, earned $4.7M in 2021, a 1% increase compared to previous year.
Ron M. Vachris, Chief Operating Officer, received $4.7M in 2021, which increases by 4% compared to 2020.
James P. Murphy, Chief Operating Officer, earned $4.5M in 2021, a 2% increase compared to previous year.
Russ D. Miller, Chief Operating Officer, received $4.1M in 2021, which increases by 2% compared to 2020.
Costco's fiscal year ends on September 1.
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Source: SEC filing on December 6, 2022.