CEO Corie Barry and other Best Buy executives earned higher bonuses last year after the company's executive compensation committee lowered financial targets for its annual incentive plan.

Still, Barry's pay declined 11.3% from 2023 to $9.2 million because restricted stock awards from the previous three-year performance period were worth less.

Here's a breakdown of Barry's pay for the 2025 fiscal year, which ended Jan. 31:

Total compensation: $9,182,687

Salary: $1,300,000

Nonequity incentive pay: $2,166,840

Other compensation: $183,263

Exercised stock options: $815,011

Value realized on vesting shares: $4,717,573

CEO pay ratio: 518-1

Median employee pay: $31,141

Total shareholder return for the year ended Jan. 31: 23.5%

Note: Just 8% of Barry's targeted compensation is base salary, which did not increase last year.

The rest of her compensation is dependent on the company's performance, whether it's hitting financial targets or stock price.

In the previous year, 20% of executive bonuses were tied to sustainability, social impact and culture of belonging goals. In fiscal 2025, the compensation committee put more emphasis on hitting financial targets.

In fiscal 2024 and 2025, Richfield-based Best Buy was short on revenue and operating income goals, but it was closer to meeting them this past year. Executives earned 83% of possible bonuses based on the combined targets, compared with only 76% the prior year.

The compensation committee also set lower targets than the previous year. As a result, Barry's annual bonus increased 9.9% to $2.1 million.

Barry earned less from previously issued long-term equity awards the were exercised or vested during the year, which was why her total compensation decreased 11.3% from the prior year.