Benjamin Fowke III Xcel Energy Inc.
Chairman, president, CEO
Total compensation: $18,500,718 for the year ended Dec. 31, 2016
Nonequity incentive pay: $1,828,800
Other compensation: $52,902
Value realized on vesting shares: $15,419,016
Total 2016 shareholder return: 17.1 percent
Note: Fowke realized $15.4 million from restricted stock awards that vested during the year. Xcel's compensation plan grants time-based restricted stock awards and performance-based restricted stock awards. The performance-based stock awards issued in 2014 were dependent on total shareholder return relative to Xcel's peer group and by meeting carbon dioxide emission reduction goals.
Strong operational and earnings results over the last three years helped Xcel executives achieve 171.4 percent of its goal, and the company's installments of renewable energy projects and energy efficiency programs allowed them to maximize awards for carbon dioxide reductions. Combined, executives earned 182 percent of the targeted long-term incentive goals.
Xcel executives, including Fowke, also earned larger annual incentive bonuses than the prior year.