Kate Spade CEO Compensation Fell 5.2% for 2016

Kate Spade & Co. on Tuesday filed a preliminary proxy showing total compensation for chief executive officer Craig Leavitt declined 5.2 percent to $9.8 million in 2016 from $10.4 million in 2015. The base salary of $1.5 million stayed the same for both years. The value of stock awards rose 34 percent to $7.1 million from $5.3 million, but the non-equity incentive plan compensation fell 51.8 percent to $1.1 million from $2.4 million. Leavitt didn’t receive any option awards in 2016 — he received $1.1 million in 2015 — and other compensation rose 31.8 percent to $95,514 from $72,467. Deborah Lloyd, chief creative officer, also saw her total compensation fall, by 14.1 percent to $8.3 million from $9.7 million in 2015. Her base salary of $1.9 million remained the same for both years. She too saw the value of her stock awards increase by 34 percent to $4.6 million from $3.5 million, but her incentive compensation award fell 51.8 percent to $1.7 million from $3.5 million. She received $732,797 in option awards in 2015, but none in 2016, and other compensation rose 29.5 percent to $82,154 from $63,452. The company, which will elect 11 directors at the firm’s annual shareholders’ meeting on May 16 at its New Jersey offices,

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