ITC Holdings CEO Joseph Welch's 2008 pay jumps 49% to $7.8M
ITC Holdings reports 2008 executive compensation
By ExecPay News
Published: April 13, 2009
ITC Holdings reported fiscal year 2008 executive compensation information on April 13, 2009.
In 2008, five executives at ITC Holdings received on average a compensation package of $2.6M, a 27% increase compared to previous year.
Average pay of disclosed executives at ITC Holdings
Joseph L. Welch, Chief Executive Officer, received $7.8M in total, which increased by 49% compared to 2007. 40% of Welch's compensation, or $3.1M, was of change in pension value and nonqualified deferred compensation earnings. Welch also received $1.1M in bonus, $827K in non-equity incentive plan, $730K in option awards, $679K in salary, $1.1M in stock awards, as well as $169K in other compensation.
Linda H. Blair, EVP & CBO, received a compensation package of $1.5M, which increased by 6% compared to previous year. 31% of the compensation package, or $456K, was in non-equity incentive plan.
Jon E. Jipping, Chief Operating Officer, earned $1.5M in 2008, a 18% increase compared to previous year.
Edward M. Rahill, SVP, President — ITC Grid Development, received $1.4M in 2008, which decreases by 4% compared to 2007.
Daniel J. Oginsky, General Counsel, earned $1.1M in 2008, which is about the same as previous year.
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Source: SEC filing on April 13, 2009.