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Arch Coal CEO's pay falls slightly to $9.2 million

Arch Coal CEO's pay falls slightly to $9.2 million

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Arch Coal paid Chief Executive John Eaves $9.2 million last year, including $1.5 million in stock issued as part of a retention plan.

Eaves' pay was down 6 percent from his 2017 total of $9.8 million, which included a $1.1 million retention bonus.

Arch's proxy statement, filed March 18, says its board decided in October to again hand out one-time bonuses "to facilitate the retention of these executives and in execution of the company's long-term succession plan." In addition to the stock, Eaves' retention package included $750,000 in cash, which will be paid in 2019, 2020 and 2021.

Eaves' salary of $1.03 million has been flat since 2015. Last year's pay included an annual performance bonus of $1.8 million, which was 163 percent of his target amount, and a separate bonus of $1.08 million based on environmental and safety measures.

His stock grants totaled $5.2 million, including the retention award. Of that, $2 million depends on Arch's stock price performance between 2018 and 2020.

Eaves earned 89 times as much as the median Arch employee last year, down from a pay ratio of 101 the year before. Arch calculated that its median worker earned $103,884.

Eaves' golden parachute entitles him to $11.9 million if he leaves Arch after a takeover. In addition, a takeover would trigger immediate vesting of $12.8 million in restricted stock awards.

Arch's earnings per share, before extraordinary items, declined 36 percent last year and its share price fell 11 percent.

Here's what 30 St. Louis CEOs earned in 2017:

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