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    Laura Alber

    Chief Executive Officer at Williams-Sonoma Inc
    Board
    Since 2010
    Age
    55 years
    Education
    Holds a Bachelor of Arts (B.A.) degree from the University of Pennsylvania.
    Tenure
    Joined the company 27 years ago and held several leadership roles, including Senior Vice President, Executive Vice President, and President, before being promoted to Chief Executive Officer in 2010.

    Also at Williams-Sonoma Inc

    DK
    David King
    Executive Vice President, General Counsel, and Secretary
    JH
    Jeff Howie
    Chief Financial Officer (CFO)
    KS
    Karalyn Smith
    Executive Vice President, Chief Talent Officer

    About

    Laura Alber is the Chief Executive Officer of Williams-Sonoma, Inc. and is 55 years old as of April 2, 2024. Her career at the company spans over 27 years, during which she has steadily advanced through various leadership roles.

    Graduating with a Bachelor of Arts (B.A.) degree from the University of Pennsylvania , she combined her educational foundation with her professional expertise to drive growth and operational excellence at the firm.

    Throughout her tenure, she has taken on roles ranging from Senior Vice President to Executive Vice President and President, ultimately earning her promotion to Chief Executive Officer in 2010. Her extensive experience in merchandising, operations, and digital innovation has been critical in expanding the company's market reach and global presence.

    In addition to her executive responsibilities, she contributes to the broader business community through board memberships, including at Salesforce.com, Inc., and has been involved with various governance and strategic initiatives. Her leadership is characterized by a commitment to sustainable growth and effective change management.

    $WSM Performance Under Laura Alber

    Past Roles

    OrganizationRoleDate RangeDetails
    Fitbit, Inc. Director 2016-2021 N/A
    Williams-Sonoma, Inc. President 2006-2010 N/A
    Williams-Sonoma, Inc. President, Pottery Barn Brands 2002-2006 N/A
    Williams-Sonoma, Inc. Executive Vice President, Pottery Barn 2000-2002 N/A
    Williams-Sonoma, Inc. Senior Vice President, Pottery Barn Catalog and Pottery Barn Kids Retail 1999-2000 N/A

    External Roles

    OrganizationRoleDate RangeDetails
    Salesforce.com, Inc. Director Since 2021 Customer relationship management software
    University of Pennsylvania Board of Trustees Trustee Since 2018 Academic position on Board of Trustees

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary $1,600,000AnnualAnnual base salary for fiscal 2023, unchanged from the prior year.
    Restricted Stock Units (RSUs) $6,000,0004-year vesting (25% per year)Time-based equity awards included in the long-term incentive target; represent 43% of the equity mix.
    All Other Compensation $96,662As incurred during fiscal 2023Includes Life Insurance Premiums ($8,262), 401(k) Matching ($9,900), Car Allowance ($6,000), Executive Financial Services ($12,000), and Personal Aircraft Usage ($60,500).

    Performance Compensation

    Data from  FY 2023

    Annual Bonus (Non-Equity Incentive Plan Compensation)

    MetricValueDetails
    Target Bonus$3,200,000200% of base salary.
    Actual Bonus Achievement$8,000,000250% of target bonus based on strong individual and company performance.
    Maximum Bonus$10,000,000Maximum cap as set by the plan.
    Performance MetricsN/A- Threshold: Positive Net Cash Flow provided by operating activities.
    - Secondary: Diluted EPS target of $14.60 (excluding extraordinary items).
    Bonus Pool Funding115% of targetIncreased from 114.7% based on company performance.
    PaymentCashPaid in full with no vesting schedule or grant date, as it is a cash bonus.

    Performance Stock Units (PSUs)

    MetricValueDetails
    Target Number of PSUs67,181Target allocation of award units.
    Maximum Number of PSUs201,543Maximum award units for above-target performance.
    Grant DateMarch 21, 2023The PSUs were granted on this date.
    Grant Date Fair Value$7,999,913Fair value based on the grant date.
    Grant Date Stock Price$208.55Closing price used on January 26, 2024.
    Performance Metrics & WeightsN/A- Revenue Growth (3-Year CAGR): 20%
    - Earnings Growth (EPS 3-Year CAGR): 20%
    - ROIC (3-Year Average): 30%
    - Operating Cash Flow (3-Year Average): 30%.
    Performance ThresholdsN/A- Threshold Performance: 50% of target PSUs earned.
    - Target Performance: 100% of target PSUs earned.
    - Maximum Performance: 300% of target PSUs earned.
    Vesting Schedule3-year vestingPSUs vest on the third anniversary of the grant date, contingent on achieving performance targets.

    This detailed breakdown outlines all performance compensation components for 2023, including the required performance metrics, targets, thresholds, caps, weights, vesting schedules, evaluation periods, and actual results leading to the bonus payouts.