New York City Gap reported Tuesday that its CEO Glenn Murphy's total compensation last year jumped 49% to $9.33 million. The report came in a regulatory filing with the Securities and Exchange Commission Tuesday.
A big part of the jump came from $3.02 million in non-equity compensation under the company's annual incentive bonus plan that Murphy didn't receive in the prior year. His salary and option awards almost doubled to $1.5 million and $3.22 million separately, while his stock awards fell by more than two-fifths.
Murphy didn't receive a bonus last year, compared with a 2007 bonus of $2.14 million, the company said in the filing.