CEO pay watch: John Erickson, Otter Tail Corp.

  • Updated: March 16, 2012 - 10:12 PM

John Erickson, former president and CEO, Otter Tail Corp.

CEO PAY WATCH OTTER TAIL CORP.

John Erickson, former president, CEO

Total compensation: $3,440,691 for the year ended Dec. 31

Salary: $469,583

Other compensation: $916,161

Value realized on vesting shares: $2,054,947

New stock options: 7,900

Total return to shareholders: 3.3 percent

Note: Erickson resigned in September. His other compensation includes $914,661 for severance and unused paid time off. Erickson was succeeded by Edward McIntyre, an Otter Tail board member who stepped in as interim CEO and was named permanent president and CEO on Jan. 3.

In January, Otter Tail's compensation committee set McIntyre's annual salary at $600,000 per year and his targeted annual performance bonus at $480,000. It added a long-term incentive opportunity of $930,000 for the 2012-to-2014 performance period.

PATRICK KENNEDY

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