Steve Schumacher
Chief People Officer at DLTR
Executive
About Steve Schumacher
Steve Schumacher, age 53, is Dollar Tree’s Chief People Officer (CPO) since November 2024, following service as Interim CPO from May–November 2024 and Senior Vice President of Human Resources from 2018–May 2024; he has nearly 20 years of HR experience and leads all HR functions across Dollar Tree and Family Dollar . Company performance context for FY2024: adjusted operating income achieved 85.9% of target and adjusted total revenue achieved 97.5% of target, resulting in a 61.6% corporate performance bonus payout under the MICP, while TSR declined in 2024 and net income/adjusted operating income were generally lower in 2023–2024 versus 2020–2022 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Dollar Tree, Inc. | EVP & Chief People Officer | Nov 2024–Present | Leads all HR functions for Dollar Tree and Family Dollar; people strategy alignment during transformation |
| Dollar Tree, Inc. | Interim Chief People Officer | May 2024–Nov 2024 | Stabilized HR leadership; supported strategic review of Family Dollar |
| Dollar Tree, Inc. | SVP, Human Resources | 2018–May 2024 | Led HR for both banners including Field, Supply Chain, HR Compliance, Labor Relations, People Solutions |
External Roles
No public company boards or external roles disclosed for Schumacher. If any exist, they were not reported in the latest proxy and related filings .
Fixed Compensation
Not specifically disclosed for the Chief People Officer in the company’s proxy; Dollar Tree’s executive pay program consists of base salary, annual cash bonus (MICP), and long-term incentives (PSUs, RSUs, options) .
Performance Compensation
| Metric | Weighting | FY2024 Target | FY2024 Actual | Payout % | Vesting/Period |
|---|---|---|---|---|---|
| Adjusted Operating Income | 60% | $2,105.2 million | $1,807.9 million | 52.9% for metric | Annual cash (MICP); FY2024 corporate payout calculation |
| Adjusted Total Revenue | 40% | $31,649.8 million | $30,845.6 million | 74.6% for metric | Annual cash (MICP); FY2024 corporate payout calculation |
| Total Corporate Payout | 100% | — | — | 61.6% | Annual cash (MICP) payout |
| Long-Term Incentive Design | Detail |
|---|---|
| PSU metrics | Three-year cumulative Adjusted EPS (60%) and Adjusted Total Revenue (40%) with a relative TSR modifier ±25% vs peer group |
| RSUs | Service-based, vest ratably over three years; retention-focused |
| Stock Options | Vest ratably over three years; align with long-term share price appreciation |
| Grant timing | Annual equity grants on April 1; officer new-hire grants on last business day of the fiscal month following hire month |
Equity Ownership & Alignment
| Policy Area | Key Terms |
|---|---|
| Executive Stock Ownership Guidelines | CEO 6x salary; CFO/COO/CMO 3x; Other Chief-Level Officers 2x salary (counts direct stock, RSUs, certified PSUs; options excluded). Executives expected to reach levels within five years . |
| Compliance Status | As of April 1, 2025, all named executive officers are in compliance; Schumacher’s individual compliance level is not separately disclosed . |
| Hedging/Pledging | Company prohibits hedging and short sales; prohibits pledging or margin accounts except by special Board permission. No executive or director pledging during fiscal 2024 . |
Employment Terms
| Agreement Type | Trigger | Benefits |
|---|---|---|
| Retention Agreements (Change-in-Control) | Double trigger (CIC + termination without cause or resignation for good reason within 2 years; in certain cases within 6 months before CIC) | Severance equals 1.5x base salary + bonus for executive officers; 2.5x for CEO; payout of earned but unpaid MICP and pro-rata calculated bonus (timing-dependent); equity service conditions deemed satisfied; performance criteria determined by Committee; benefits continuation; subject to 280G cutback to avoid excise tax . |
| Executive Agreements (Non-CIC terminations) | Termination without “cause” or on account of death/disability | Lump sum severance of 24 months base salary plus a prorated portion of one year’s target bonus; COBRA up to 18 months; restrictive covenants including non-compete; severance payable regardless of subsequent employment (COBRA exceptions). Revised form adopted November 2024; offered to certain execs (explicitly to CEO, CFO, CMO, COO; available to others). Execution by Schumacher not specifically disclosed . |
| Clawback Policy | Material financial restatement | Mandatory reimbursement of excess incentive compensation for current/former executive officers per SEC/Nasdaq rules updated in 2023 . |
Compensation Structure vs Performance Metrics
- Annual incentive (MICP) uses adjusted operating income (60%) and adjusted total revenue (40%) with defined thresholds and maximums; adjusted operating income hurdle required for any payout .
- Long-term PSUs reward three-year cumulative Adjusted EPS and Adjusted Total Revenue with a relative TSR modifier, aligning pay with multi-year value creation .
- In FY2024, corporate performance produced a 61.6% MICP payout, indicating below-target adjusted operating income and near-target adjusted revenue outcomes .
Vesting Schedules and Insider Selling Pressure
- RSUs and stock options vest ratably over three years from grant date; annual grant date policy is April 1, which creates steady annual vesting events that can lead to periodic selling for tax/liquidity needs, mitigated by ownership guidelines and hedging/pledging prohibitions .
- PSU performance periods are three years, with payouts contingent on multi-year EPS and revenue and adjusted by relative TSR, reducing short-term selling incentives .
Performance & Track Record
- Company-level alignment: TSR increased in 2020–2022, then decreased in 2023–2024; compensation actually paid to NEOs generally moved in tandem, reflecting pay-for-performance alignment .
- FY2024 corporate metrics used in incentives reflected transformation actions (e.g., Family Dollar review) and material adjustments in the adjusted operating income calculation approved by the Committee .
Compensation Peer Group and Shareholder Feedback
- Peer group (16 retailers) includes Dollar General, Target, Kroger, Lowe’s, TJX, Ross, Burlington, Macy’s, Nordstrom, Tractor Supply, BJ’s, Gap, Walgreens, Albertsons, Rite Aid; positioning around median revenue size; unchanged for FY2024 .
- Say-on-pay support was ~95% at the 2024 annual meeting, indicating strong shareholder alignment with the compensation program .
Equity Ownership & Alignment Details
| Element | Details |
|---|---|
| Guideline multiple for CPO | Other Chief-Level Officers: 2x base salary . |
| Qualifying ownership | Direct stock, spouse/dependent/trust holdings, retirement accounts, certified PSUs, unvested RSUs; options excluded . |
| Hedging/Pledging controls | Prohibited; none occurred in FY2024 . |
Employment Start Date, Tenure, and Agreements
- Tenure in role: CPO since November 2024; interim CPO during May–November 2024; with Dollar Tree since 2018 .
- Revised Executive Agreement form adopted November 2024 with strengthened severance mechanics; offered broadly to select executives, but individual execution by Schumacher not confirmed in filings .
Investment Implications
- Pay-for-performance alignment is robust: multi-metric annual incentives and three-year PSU metrics with a TSR modifier tie compensation to profitability and growth, reducing short-termism risk .
- Retention risk appears mitigated by double-trigger CIC protection and non-CIC Executive Agreements; RSU/option three-year vesting supports retention but can create periodic selling pressure, counterbalanced by ownership guidelines and hedging/pledging prohibitions .
- Governance quality signals are positive: robust clawback policy, no excise tax gross-ups, prohibition of option repricing, and strong say-on-pay support (~95% in 2024) .
- Near-term execution focus for HR under Schumacher includes transformation and Family Dollar strategic review, indicating human capital priorities aligned with enterprise value creation initiatives .