XCEL ENERGY INC.
Richard Kelly, chairman, CEOTotal compensation: $11,308,896 for the year ended Dec. 31
Salary: $1,200,000
Bonus: $500,000
Non-equity incentive pay: $1,481,400
Other compensation: $81,722
Value realized on vesting shares: $8,045,774
Total 2010 return to shareholders: 16.1 percent
Note: The majority of Kelly's $11.3 million in total compensation was from the $8 million of previously issued restricted stock awards that vested last year. Kelly received $1.5 million in non-equity incentive pay. Kelly's short-term incentive pay was awarded after the company exceeded 2010 performance targets. Earnings per share rose 8 percent in 2010 to $1.61 and the annual dividend rose 3.1 percent.
The compensation committee also awarded Kelly a discretionary bonus of $500,000 "for his industry leading environmental leadership and the continued successful execution of the company's environmental strategy."
The company recorded an expense of $3,838,687 for restricted stock awards as part of Kelly's long-term incentive plan compensation for 2010, which is not included in this total compensation figure.
PATRICK KENNEDY
