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Arch Coal and Peabody Energy CEOs each had pay approaching $5M in 2015

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Arch Coal and Peabody Energy CEOs each had pay approaching $5M in 2015

's Chairman and CEOJohn Eaves, and Peabody Energy Corp.'sPresident and CEO Glenn Kellow received $4.9 million and $4.8 million in total compensationin 2015, respectively, according to amended Form 10-K filings released April 29.

Eaves'total compensation in 2015 was 33.3% lower than the prior year's roughly $7.3 million.His 2015 pay included a $1.0 million salary, a cash bonus worth $192,188 and a nonequityincentive plan compensationof about $2.8 million. The nonequity incentive plan compensation included an annualcash incentive award of $997,146.

He alsoreceived $791,015 in stock and stock option awards and $106,381 in other compensation,including credits under a deferred compensation plan, matching contribution to plan,dividends and dividend equivalents, financial planning services, and club membershipdues, Arch's filing said.

Archsaid its compensation program is designed to attract, motivate and retain highlytalented executives. "We encourage sustained long-term profitability and increasedstockholder value by linking a significant portion of each named executive officer'scompensation to our achievement of financial and operating performance, which arenot guaranteed," it said in the filing.

It alsonoted that the impact of its Jan. 11 Chapter11 bankruptcy filing is not reflected in the tables contained in thecompensation discussion and analysis but added that "any claims based on holdingsin our non-qualified deferred compensation plan and supplemental retirement planare unsecured, and the value of such claims and the treatment of such holdings willbe determined in connection with our plan of reorganization in our Chapter 11 case."

In aseparate filing, Peabody reported that Kellow received $4.8 million in total compensation,a 13.76% decrease compared to the previous year's $5.6 million. His 2015 pay packageincluded an $874,167 salary and a nonequity incentive plan compensation of $519,730.

He alsoreceived $2.6 million and $749,747 in stock and option awards, respectively, and$94,220 in other compensation.

The companyhighlighted Kellow's strategic vision and leadership in the areas of portfolio optimization,operational excellence, organizational efficiency, fiscal focus and health and safetywere critical to the enterprise achievements in 2015, as the major factors in determininghis nonequity incentive plan compensation.

"Inhis role as President and Chief Operating Officer, the CORESafetyTM systems wereimplemented and yielded the lowest global safety incident rate in Peabody's 133-yearhistory; he drove initiatives to strip out $620 million in costs across the platform,including reducing selling, general, and administrative expenses to its lowest levelin nearly a decade, with gross margins averaging 26% across four of the five businesssegments," the company noted.

Peabodyfiled for bankruptcy protectionApril 13.