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Wal-Mart E-Commerce CEO Marc Lore Gets $244 Mln In Pay After Jet Deal

Marc Lore, president and chief executive officer of Walmart eCommerce U.S, received $243.9 million compensation in 2016, fueled by shares he received as part of the sale of his company to Wal-Mart Stores Inc. (WMT).

The package included restricted stock worth $236.3 million, which came as part of the buyout of his company, Jet.com, according to a regulatory filing Thursday. Most of those shares will vest monthly through September 2021 starting later this year. He also received about $7.55 million in salary, stock awards and perks.

The compensation puts Lore well ahead of Wal-Mart Chief Executive Officer Doug McMillon. McMillon got a $22.4 million pay package, up from $19.8 million in the prior year.

Marc Lore is president and chief executive officer of Walmart eCommerce U.S. He was appointed in September 2016 to lead U.S. e-commerce when his company Jet.com was acquired by Wal-Mart Stores.

by RTTNews Staff Writer

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