Benjamin Fowke III, chairman, president, CEO
Total compensation: $4,559,330 for the year ended Dec. 31
Non-equity incentive pay: $1,650,000
Other compensation: $69,897
Value realized on vesting shares: $1,389,433
Total 2012 return to shareholders: 0.5 percent
Note: Fowke’s overall compensation of $4.6 million is down from $6 million he took home in 2011, mainly because he gained less from restricted stock awards that vested during 2012 than he did in 2011.
Fowke received a discretionary bonus award of $350,000 from the compensation committee “for the outstanding financial and operational results achieved in 2012.”
Fowke received a similar bonus in 2011 worth $500,000.
According to the company’s proxy statement, Xcel met or achieved its earnings guidance for the eighth straight year, obtaining 5.8 percent growth in ongoing earnings.
Xcel also increased its annual dividend for the ninth straight year and the committee credited Fowke with strong operating performance, strong environmental results and a commitment to clean energy.
The company also recorded an expense of $3,641,207 for stock awards as part of Fowke’s long-term incentive compensation for 2012.