Spire, in a year when its earnings and stock price were rising, boosted Chief Executive Suzanne Sitherwood's pay 12% to $4.5 million.
Details of Sitherwood's pay were disclosed in a proxy statement filed Friday. Her salary was $900,096 after a 3% raise, and her $897,300 bonus was 99.7% of the target amount.
The biggest part of the CEO's compensation was $2.3 million in stock, but three-quarters of that amount is contingent on Spire's earnings and shareholder returns over a three-year period. For a similar award from 2017, Sitherwood and other executives received 97% of the target amount of stock.
Sitherwood's pay package also included a $210,953 increase in pension value, $35,735 in above-market interest on deferred compensation and perquisites valued at $30,900. The perquisites include life insurance, spousal travel, financial planning and wellness benefits.
Spire, a natural gas utility based in St. Louis, reported a 13% increase in earnings per share, before extraordinary items, for the fiscal year that ended Sept. 30. Its share price rose 19%.
If Sitherwood leaves Spire after a takeover, her golden parachute would be worth $13.9 million. That includes $6.3 million in severance and bonus, $5 million worth of stock and $2.5 million from a deferred income plan.
Sitherwood earned 44 times as much as the median Spire employee. Median pay for the company's 3,536 workers was $103,826.
Here's what St. Louis CEOs earned in 2018:
29. Allied Healthcare Products Inc.
28. Peak Resorts
27. Reliv International
26. Avadel Pharmaceuticals
25. Enterprise Financial Services Corp.
24. Huttig Building Products, Inc.
23. Foresight Energy
22. Cass Information Systems
21. Build-A-Bear Workshop
20. Commerce Bancshares (John W. Kemper)
19. Aegion Corporation
18. Esco Technologies Inc.
16. Commerce Bancshares (David Kemper)
13. Edgewell Personal Care Co.
10. Reinsurance Group
8. Peabody Energy
5. Arch Coal
4. Post Holdings
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