Devon Energy Chairman J Nichols' 2008 pay rises 9% to $20M
Devon Energy reports 2008 executive compensation
By ExecPay News
Published: April 23, 2009
Devon Energy reported fiscal year 2008 executive compensation information on April 23, 2009.
In 2008, five executives at Devon Energy received on average a compensation package of $8.8M, a 17% increase compared to previous year.
Average pay of disclosed executives at Devon Energy
J. Larry Nichols, Chairman, received $20M in total, which increased by 9% compared to 2007. 30% of Nichols' compensation, or $6M, was in stock awards. Nichols also received $3M in bonus, $3.2M of change in pension value and nonqualified deferred compensation earnings, $6M in option awards, $1.4M in salary, as well as $340K in other compensation.
John Richels, Chief Executive Officer, received a compensation package of $11M, which increased by 39% compared to previous year. 28% of the compensation package, or $3.2M, was in stock awards.
Darryl G. Smette, Executive Vice President, earned $5.1M in 2008, a 20% increase compared to previous year.
Stephen J. Hadden, former Executive Vice President, received $5M in 2008, which increases by 4% compared to 2007.
Danny J. Heatly, Chief Accounting Officer, earned $2.5M in 2008, a 28% increase compared to previous year.
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Source: SEC filing on April 23, 2009.