New York City Lowe's Cos. CEO Robert A. Niblock received compensation valued at $11.7 million in 2009, up 3% in 2008.
In a filing with the Securities and Exchange Commission on Wednesday, Lowe's reported that Niblock, who is also chairman, received a salary of $1.1 million, the same as in 2008, and a performance-based bonus of $2.8 million, up from $1.5 million in 2008.
He received other compensation worth $204,515, including $30,297 for personal use of the company's corporate aircraft and a $6,816 contribution to Niblock's 401(k) plan.
The bulk of his award came as stock options and grants valued at $7.5 million the date they were granted.
A year ago, Niblock received compensation valued at $11.3 million.
Lowe's and other home-improvement retailers have suffered as consumers hold back on big renovation projects and cut spending in general. The company has responded by lowering inventory and cutting costs.
For the year, profit fell 19% to $1.78 billion, while revenue fell 2% to $47.22 billion.