Benjamin Fowke III, Xcel Energy Inc., chairman, president, CEO
Total compensation: $26,161,963 for the year ended Dec. 31
Non-equity incentive pay: $2,883,400
Other compensation: $59,124
Value realized on vesting shares: $21,969,439
Median employee pay: $108,946
CEO pay ratio: 112:1
Total 2018 shareholder return: 5.8 percent
Note: Fowke’s 2018 compensation came mostly from his previously issued restricted stock awards that vested during the year. The company doesn’t award stock options to executives but it does award performance-based restricted stock awards based on total shareholder return, carbon emission reductions and for time served.
Fowke realized $8.6 million for the vesting of restricted stock awards tied to a relative total shareholder return measure and another $5.7 million that was tied to carbon emission reduction goals.
Fowke’s annual cash incentive pay also increased 43 percent to $2.9 million — his largest annual cash incentive award. The award is based on operational goals including customer satisfaction, reliability and employee and public safety goals as well as financial measures.
The company earned $2.47 per share, which was above goals, and kicked in a funding multiplier for the annual incentive award so Fowke and other executives earned 177 percent of the target.