CEO PAY WATCH XCEL ENERGY INC.
Benjamin Fowke III, chairman, president, CEOTotal compensation: $5,974,445 for the year ended Dec. 31
Salary: $986,979
Bonus: $500,000
Non-equity incentive pay: $850,696
Other compensation: $58,142
Exercised stock options: $10,398
Value realized on vesting shares: $3,568,230
Total 2011 return to shareholders: 22.3 percent
Note: Fowke succeeded Richard Kelly as chairman, president and CEO on Aug. 24, 2011.
Xcel annual performance bonus is based on environmental, safety and financial targets, and the company achieved 110 percent of its goals. The compensation committee also awarded Fowke a discretionary bonus of $500,000 for the company's financial and operational results.
Fowke's base salary increased from $690,000 in 2010 in part to reflect his new role as CEO.
Fowke could be affected by a shareholder proposal on the proxy from the Massachusetts Laborer's Pension Fund. It asks the board to adopt a policy that whenever possible the chairman of the board should be an independent director. The Xcel board is recommending a "no" vote on the proposal, saying that a combined chairman-CEO offers "the most effective leadership structure for the company."
PATRICK KENNEDY
