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Belk Inc. Executives See Compensation Decline

Thomas M. Belk Jr., chairman and ceo, saw a 22.3 percent decline for 2011 due primarily to a decrease in stock awards.

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COMPENSATION DECLINES AT BELK: Thomas M. Belk Jr., chairman and chief executive officer of Belk Inc., saw a 22.3 percent decline in total compensation for 2011 to $4.7 million from $6 million a year ago, due primarily to a decrease in stock awards. The base salary was $986,552, with a bonus of $1.4 million. The value of stock awards fell to $2 million from $3.6 million in 2010.

John R. Belk, president and chief operating officer, saw his total compensation fall 28.3 percent to $2.8 million in 2011 from $3.9 million in 2010. His base salary was $821,012, with a bonus of $657,667. The value of stock awards last year was $1 million, down from $2.3 million in 2010.

Belk Inc. is holding its annual meeting of stockholders on May 30 at 11:00 am at the Mint Museum Uptown in Charlotte, N.C.

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