Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
The Compensation Committee and the other independent members of the Board of
Directors of Wolverine World Wide, Inc. (the "Company") reviewed a number of
factors in assessing 2013 compensation for the Company's executive officers,
including the Chief Executive Officer. These factors include, among others, the
Company's acquisition of the Performance + Lifestyle Group business from
Collective Brands, Inc. for $1.24 billion, the scope of post-acquisition
responsibilities of individual executives and various market data. As a result
of such review, the Company approved the following fiscal 2013 compensation
actions for Blake W. Krueger, Chairman, Chief Executive Officer and President:
annual salary - $1,100,000; annual bonus plan target (as a percentage of salary)
- 125%; and three-year plan bonus target (as a percentage of salary) for the
2013 - 2015 performance period - 100%.
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