CEO Pay Watch: Michael Reger of Northern Oil and Gas

  • Updated: April 19, 2013 - 8:15 PM
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Michael Reger, chairman and CEO of Northern Oil and Gas Inc.

 

Total compensation: $5,830,870 for the year ended Dec. 31

Salary: $0

Bonus: $309,330

Non-equity incentive pay: $721,770

Other compensation: $90,726

Value realized on vesting shares: $4,709,044

Total 2012 return to shareholders: -29.7 percent

Note: On Jan. 1, 2011, Reger requested, instead of a salary, to be compensated primarily in restricted stock. For 2012, Reger was granted 42,000 shares of the company instead of a salary.

Reger is still eligible for an annual bonus that is paid in cash and based on company performance. In 2012 his annual performance bonus was $721,770. In addition Reger received a discretionary bonus of $309,330 from the board of directors. Reger’s total cash bonus for the year was $1,031,100.

The company recorded an expense of $4,181,520 for stock awards as part of Reger’s long-term incentive compensation for 2012. A portion of that award includes time-based restricted stock in lieu of his salary.

Patrick Kennedy

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