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New York -- Wal-Mart Stores CEO Mike Duke received pay package in 2012 worth $20.7 million, up 14% from the previous year, according to an Associated Press analysis of a regulatory filing Monday. Duke's performance-based cash bonus jumped more than 50%.
In the regulatory filing, Wal-Mart said that starting this year, it will tie some of Duke's compensation, along with that of other top executives, to the company's success in strengthening its compliance controls. Traditionally, compensation has been based on financial measures.
Duke received a base salary of $1.3 million, up 4% from the year-ago period, along with stock awards of $13.6 million, also up 4%. His performance-based cash bonus increased to $4.4 million from $2.9 million, according to the report.
Duke's other compensation amounted to $644,450, up from $377,258 in the previous year. The perks included $101,947 for the use of the company aircraft. He also received $644,450 in above market interest credited on deferred compensation.
The Associated Press formula calculates an executive's total compensation during the last fiscal year by adding salary, bonuses, perks, above-market interest that the company pays on deferred compensation and the estimated value of stock and stock options awarded during the year. It does not count changes in the present value of pension benefits.