Pay hike for J.C. Penney's CEO

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP) CEO Mike Ullman will receive a boost in salary, according to a SEC filing from the retailer.

The exec will earn $1.5M in salary and be eligible for a $3M bonus and $5.5M in stock awards if things go right.

Most retail analysts think Ullman has done a capable job of attempting to right the JCP ship.

SEC Form 8-K