The bulk of Bank’s compensation came from $13 million cash and a one-time restricted stock unit award worth just over $5 million to offset the “significant compensation” he forfeited after resigning from his previous job, according to the company’s financial filing. The cash payment has a three-year clawback period, while the RSUs vest over three years. (The Logic)

Talking point: Bank’s annual salary was roughly $1.3 million—of which he received a prorated sum of roughly $438,000 after starting in the role on Nov. 1. He also received part of his long-term incentive plan award valued at about $2.4 million and a short-term incentive plan award of about $911,000, among other incentives. Chairman Galen Weston’s total compensation for the year was just over $8 million. Bank was previously CEO of Denmark’s largest grocer, Salling Group. Known as a risk-taker, Bank’s first months at Loblaw come as shoppers grow increasingly frustrated with high food prices. A boycott of the grocer’s chains is being planned for next month.