Headlines

Millions of Dollars to Kate Spade Executives

Company reveals compensation levels in regulatory filing

Published

10 years ago

January 14, 2014

steve kaufman

William McComb, who recently announced his retirement as ceo of Kate Spade & Co. Inc. (New York) – the former Fifth & Pacific Cos. Inc. – will receive $6.5 million for his efforts, according to a regulatory filing.

Craig Leavitt, the incoming ceo, will be paid $1.5 million. And Deborah Lloyd, the new chief creative officer, will be paid $1.9 million. Beyond the salaries, both will receive $9 million in market share units, which the company describes in the filing as a “staking grant.”

In addition, Leavitt will receive $5 million (as part of a long-term incentive award) and Lloyd will receive $3.275 million. The two will also receive a “prorated portion” of $4.5 million, once the sale of Lucky Brand Jeans closes.

McComb’s compensation represents two times his base salary and bonus, plus insurance and health coverage for two years.

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