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Peabody CEO earns $7.6 million but will be hurt by sinking stock price

Peabody CEO earns $7.6 million but will be hurt by sinking stock price

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Peabody Energy paid Chief Executive Glenn Kellow $7.6 million last year, but he won't receive nearly that much unless the company's stock comes roaring back.

Kellow's total pay increased 4 percent from 2018's total of $7.3 million, according to a proxy statement filed Wednesday.

Two-thirds of Kellow's compensation, or $5.2 million, was in stock, but Peabody awarded his shares in January 2019, when its stock price was above $30. With the stock now below $3, the award of performance shares and restricted stock would be worth less than $300,000 today.

Kellow's salary was unchanged at $1.1 million and his $1.16 million bonus was 84% of the target amount. He received perquisites worth $19,683, including tax preparation and spousal flights on a company plane, plus $1,619 to cover taxes on the flights.

Peabody's median employee earned $113,592, so Kellow's pay was 67 times as high as that of a typical worker.

The St. Louis based coal company reported a loss of $211 million last year. It's been hurt by falling demand from power plants and competition from cheaper natural gas and renewable energy.

Here's a review of St. Louis CEOs' 2018 pay:

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