Goodarzi had total compensation of $6.9 million for the year ended July 30. In his new role, Smith will have an annual salary of $750,000, down from his current million. His compensation for fiscal 2018 was $16.4 million. The change in salaries is important because annual bonus targets are set at a percentage of salary—150 percent for Goodarzi and 100 percent for Smith. Smith will also receive $3 million in restricted stock units in February, which vest over four years.