By Amy Martinez
Nordstrom President Blake Nordstrom received a total pay package worth nearly $4.3 million last year, a 44 percent increase from the $2.95 million he received in 2009, the Seattle-based retailer disclosed in a regulatory filing Thursday.
His 2010 compensation was made up of a $2.1 million bonus, a salary of $696,111, new stock and option awards worth $1.4 million at the time they were given, and $63,852 in perks, including $38,828 of Nordstrom merchandise discounts.
Also, the estimated value of his future pension rose $1.7 million, according to the filing.
The company noted that its sales at stores open more than a year surged 8.1 percent last year, after a 4.2 percent decline in 2009, and it turned in a record $9.3 billion in total sales, boosted by the opening of three new full-line stores and 17 Nordstrom Rack locations. It said those positive results paid off for shareholders as the company's stock rose more than 18 percent during the fiscal year.
Its annual shareholder meeting is now set for May 11 at 11 a.m. in the John W. Nordstrom Room of the downtown Seattle flagship, 1617 Sixth Ave.
