Did the Walmart CEO Get a Raise?
Yes. Doug McMillon's total compensation rose 7% to $29.2M in 2026, from $27.4M in 2025, per Walmart's SEC DEF 14A filings.
This page answers a common executive-compensation question: Did the Walmart CEO Get a Raise?. The answer draws on SEC DEF 14A proxy statements, the public disclosure mechanism for U.S. public-company executive pay. Every public company must file an annual proxy statement disclosing CEO and named-executive-officer compensation in detail. Why this matters for shareholders: executive compensation is the single most-disclosed governance metric at U.S. public companies, and the Dodd-Frank-mandated say-on-pay vote gives shareholders an explicit channel to express approval or dissent. Reading pay data well — including pay-versus-performance, peer-group selection, and time-vesting structures — is a basic part of stock-by-stock fundamental analysis.
The detailed answer below uses the actual proxy-statement filings, explains how to read them, and translates the executive-compensation accounting into the shareholder-relevant interpretation.
Doug McMillon Pay: 2025 → 2026
- 2026 total comp
- $29,240,930
- 2025 total comp
- $27,408,854
- Change ($)
- +$1,832,076
- Change (%)
- +7%
Source: Walmart SEC DEF 14A proxy statements, 2025 and 2026 Summary Compensation Tables.
In its latest proxy statement, Walmart reported Doug McMillon's 2026 total compensation at $29,240,930 — up $1,832,076 (7%) from $27,408,854 in 2025. The biggest single driver was stock awards, which fell $NaN.
Across the disclosed history, Doug McMillon's total pay has run: 2022, $25.7M; 2023, $25.3M; 2024, $27.0M; 2025, $27.4M; 2026, $29.2M. CEO compensation is lumpy year to year because equity grants — the largest component — are often awarded in multi-year blocks rather than evenly, so a single year's jump or drop can reflect grant timing as much as a change in pay philosophy.
Whether a raise is warranted ties back to performance: Walmart posted a 7.2% three-year total shareholder return on 4.9% revenue growth, and the package carries a CEOPay Pay-for-Performance grade of C (61/100).
Compensation Detail
| Component | Amount |
|---|---|
| Total Compensation | $29,240,930 |
| Base Salary | $NaN |
| Stock Awards | $NaN |
| Option Awards | $NaN |
| Non-Equity Incentive | $NaN |
| CEO-to-Worker Pay Ratio | 914:1 |
| Pay-Performance Grade | C |
Other Retail CEOs
Frequently Asked Questions
Yes. Doug McMillon's total compensation rose 7% to $29.2M in 2026, from $27.4M in 2025, per Walmart's SEC DEF 14A filings.
Doug McMillon, CEO of Walmart, earned $29.2M in total compensation in 2026, including $NaNM in stock awards and $NaN in base salary.
In 2026, total compensation of $29,240,930 was composed of $NaN base salary, $NaN cash bonus, $NaN stock awards, $NaN option awards, and $NaN in non-equity incentive compensation.
Our Pay-for-Performance Score rates Walmart as C (61/100), based on three-year total shareholder return of 7.2%, revenue growth of 4.9%, and shareholder say-on-pay vote approval.
Doug McMillon is the chief executive officer of Walmart (WMT).
More about Walmart
Yes. Doug McMillon's total compensation rose 7% to $29.2M in 2026, from $27.4M in 2025, per Walmart's SEC DEF 14A filings.
Source: SEC EDGAR DEF 14A proxy statements, 2026.