Gap CEO Pay Package Up 18 Percent In 2010

SAN FRANCISCO (CBS/AP) – Gap Inc. Chairman and CEO Glenn Murphy received compensation worth nearly $6 million in 2010, an 18 percent increase from the prior year, according to an analysis by The Associated Press.

Most of the increase came from a one-time $635,000 bonus and $1.8 million in stock awards, according to a regulatory filing. Murphy didn’t receive any stock awards the year before.

Murphy saw his annual cash performance bonus decline by 50 percent to $1.7 million. Murphy’s stock awards were valued at $1.8 million in 2010.

Gap operates stores under its namesake chain as well as under Old Navy and Banana Republic.

The AP’s calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services may have contributed to this report.)

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