Chesapeake Energy reports chairman's annual pay

Archie Dunham, the new chairman of Chesapeake Energy Corp., will receive about $1.1 million this year in compensation, according to regulatory filings posted Wednesday.
by Adam Wilmoth Modified: June 27, 2012 at 10:59 pm •  Published: June 28, 2012

In addition to the base annual compensation and the July 2 bonus, Dunham last week received an initial restricted stock award worth $500,000 and an annual stock award valued at $250,000, bringing his total compensation for the year to about $1.1 million.

Other than the July 2 bonus, the stock compensation for Dunham and the other directors is restricted. About one-quarter of the shares are available immediately. Another 25 percent of the stock award is available each year for the next three years.

Chesapeake announced in May that it had cut compensation for outside board members by 20 percent and eliminated the personal use of company planes. Previously, Chesapeake directors received a total compensation package of about $550,000, including cash, stock and the use of Chesapeake aircraft, according to regulatory filings.

by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
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