Costco CEO W Jelinek's 2022 pay rises 13% to $9.9M
Costco reports 2022 executive compensation
By ExecPay News
Published: December 6, 2022
Costco reported fiscal year 2022 executive compensation information on December 6, 2022.
In 2022, five Costco executives received on average a compensation package of $6.6M, a 25% increase compared to previous year.
Average pay of disclosed executives at Costco
W. Craig Jelinek, Chief Executive Officer, received $9.9M in total, which increased by 13% compared to 2021. 80% of Jelinek's compensation, or $7.9M, was in stock awards. Jelinek also received $160K of change in pension value and nonqualified deferred compensation earnings, $500K in non-equity incentive plan, $1.2M in salary, as well as $98K in other compensation.
For fiscal year 2022, the median employee pay was $45,450 at Costco. Therefore, the ratio of W. Craig Jelinek's pay to the median employee pay was 218 to one.
Ron M. Vachris, Chief Operating Officer, received a compensation package of $7.4M, which increased by 58% compared to previous year. 82% of the compensation package, or $6.1M, was in stock awards.
Richard A. Galanti, Chief Financial Officer, earned $5.8M in 2022, a 17% increase compared to previous year.
Russ D. Miller, Chief Operating Officer, received $5M in 2022, which increases by 21% compared to 2021.
James P. Murphy, Chief Operating Officer, earned $5M in 2022, a 10% increase compared to previous year.
Costco's fiscal year ends on September 1.
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Source: SEC filing on December 6, 2022.