CLAYTON — Caleres more than tripled compensation for CEO Diane Sullivan last year as the shoe seller reported record profits and put pandemic struggles in the rearview mirror.
A $3.6 million performance bonus for exceeding profit targets, plus an increase in stock awards boosted Sullivan’s pay to $10.2 million, up from $2.9 million in 2020 — and $6 million in 2019.
The majority of the $5 million in stock awards will vest over three years; the value of the rest will depend on the company’s performance.
The rest of Sullivan’s compensation included a $1.2 million base salary, $200,000 in deferred compensation and $80,000 worth of personal flights on a company plane.
Caleres said Sullivan’s compensation was 417 times that of a median employee’s $24,431. Caleres noted that a large number of its employees are part-time, temporary or seasonal.
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Caleres, formerly known as Brown Shoe Co., was founded in 50¶È»ÒÊÓƵ more than a century ago and is now headquartered in Clayton. It owns Famous Footwear stores and brands like Allen Edmonds, Sam Edelman and Naturalizer.