JCPenney CEO Ron Johnson's Pay Package Plummeted 97%

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JCPenney has filed its proxy statement with the SEC, and it shows that CEO Ron Johnson isn't getting paid anywhere near what he did the year prior.

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In 2011, he received $375,000 in base salary and an additional $52.6 million in stock, with $236,000 tacked on as a non-equity incentive plan.

In 2012, he earned a higher base salary of $1.5 million and $388,000 in "other compensation."

But, he's not getting any more stock, dropping his total annual compensation from about $53.3 million to around $1.9 million.

Sure, the bulk of that stock award was probably part of his signing bonus. Regardless, his 2012 package represents a 97 percent drop from a year ago.

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The other main members of his C-suite — CFO Ken Hannah, COO Michael Kramer, and CTO Daniel Walker — didn't receive any stock awards either.

Johnson missed out on a lot of his incentives, and he only received 44 percent of his target cash compensation. His executive team did a bit better, earning 55 percent.

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SEC Filing

Johnson's in the middle of a massive transformation attempt at the ailing 111-year-old retailer, but so far, sales numbers have been disastrous and some analysts are getting worried about the company's cash flow.