The chairman and chief executive officer of Lowes Cos. saw a 3.7 percent decrease in total compensation to $12.6 million in 2016, according to the company proxy filed with the Securities and Exchange Commission.

Robert Niblock’s total compensation in 2015 was $13.15 million.

Niblock’s base salary of $1.3 million remained the same in 2015 and 2016, while his stock awards increased to $6,922,556 million, up 16.2 percent from $5,955,842 million in 2015.

Niblock joined Lowes in 1993 and has served as chairman and chief executive officer since 2005. Prior to Lowes, Niblock had a nine-year career with the accounting firm Ernst & Young LLP.

Chief Financial Officer Robert Hull Jr. saw a 2.5 percent decrease in total compensation in 2016 to $3,734,058 from $3,829,067 in 2015, but a 2.8 percent increase in base salary to $769,000 from $748,000.

Rick Damron, chief operating officer, also saw a 4.4 percent decrease in total compensation in 2016 to $4,700,659 from $4,915,682 in 2015.

Founded in 1946, the home-improvement retailer operates 2,365 stores and employs over 290,000 people in the U.S., Canada and Mexico.

In March, the company reported fourth-quarter revenue of $15.78 billion, exceeding Wall Street expectations of $15.28 billion, due to a strong housing market.

Lowes’ annual meeting of shareholders will be held June 2 at 10 a.m. in Charlotte.

The company’s stock is trading at $83.22 per share, down .08 percent on midday Friday.