Kohl’s sees four funds, which collectively own about 9.5% of KSS stock and are pitching a slate of five candidates for the company’s board, criticize its overgenerous executive pay in their latest missive to shareholders. The activist group includes Macellum Advisors, Ancora Holdings, Legion Partners, and 4010 Capital. Lavish management pay is a frequent target in proxy battles, but the group points out the particularly low bar set for KSS execs. From 2017-19, the targets in Kohl’s long-term incentive plan would pay out a 100% performance share unit award to management even if revenues came in 2% less than in ... Log in to view full article.