You’ll Never Believe How Much Money Nike’s CEO Mark Parker Made Last Year
Ever wonder how much money Nike’s CEO makes? Well: Hold on to your hats. Nike is wrapping up its fiscal year and The Swoosh’s numbers are predictably off the charts. There was nearly a 10 percent increase in revenue and a 24 percent jump in stock price, according to the Portland Business Journal. The most telling thing from the article, though, is how much coin one makes for leading the most successful sneaker and athletic apparel brand in the known universe. Nike’s CEO Mark Parker made some serious bank last year, according an annual proxy statement filed Friday for executive compensation. Via the PBJ:
- CEO Mark Parker: $14.7 million
- Chief Financial Officer Don Blair: $4.1 million
- Nike Brand President Trevor Edwards: $4.6 million
- Chief Operating Officer Eric Sprunk: $4.3 million
- Product and Merchandising President Jeanne P. Jackson: $4.2 million
Bros: If your career goal isn’t to be executive level at Nike, you’re doing the whole Bro thing wrong. Have aspirations, men. Dream big.
A few other interesting tidbits about getting paid while working at Nike:
Parker’s compensation included $1.5 million in salary, $3.5 million in stock awards, $2.5 million in stock options and a $6.5 million bonus.
Like many public companies, Nike uses a “pay for performance” philosophy to decide executive bonuses. It also adheres to what many consider best practices by awarding bonuses based on one-year and three-year operating performance. The approach decreases the likelihood of executives making short-term decisions at the expense of long-term success and profitability.
Nike’s top five executives earned 134 percent of the maximum long-term bonus in the just-concluded fiscal year, down from 147 percent last year.
For the year, which ended May 31, Nike’s revenue climbed nearly 10 percent to $27.8 billion. Net income increased 9 percent to $2.7 billion. The stock (NYSE: NKE) climbed 24 percent to $76.91.
Nike’s shareholders, like the shareholders of all public companies, make an annual non-binding vote on executive compensation. Nike’s shareholders will vote at its annual meeting on Sept. 18.
Keep the shareholders happy. Business 101, men.