ITC Holdings CEO Joseph Welch's 2010 pay jumps 97% to $9.6M
ITC Holdings reports 2010 executive compensation
By ExecPay News
Published: April 21, 2011
ITC Holdings reported fiscal year 2010 executive compensation information on April 21, 2011.
In 2010, six executives at ITC Holdings received on average a compensation package of $3M, a 37% increase compared to previous year.
Average pay of disclosed executives at ITC Holdings
Joseph L. Welch, Chief Executive Officer, received $9.6M in total, which increased by 97% compared to 2009. 44% of Welch's compensation, or $4.2M, was of change in pension value and nonqualified deferred compensation earnings. Welch also received $1.3M in bonus, $1.8M in non-equity incentive plan, $614K in option awards, $801K in salary, $715K in stock awards, as well as $223K in other compensation.
Linda H. Blair, EVP & CBO, received a compensation package of $2.1M, which increased by 23% compared to previous year. 34% of the compensation package, or $721K, was in non-equity incentive plan.
Jon E. Jipping, Chief Operating Officer, earned $2.1M in 2010, a 24% increase compared to previous year.
Cameron M. Bready, Chief Financial Officer, received $1.6M in 2010, which decreases by 19% compared to 2009.
Edward M. Rahill, SVP, President — ITC Grid Development, earned $1.5M in 2010, a 6% decrease compared to previous year.
Daniel J. Oginsky, General Counsel, received $1.2M in 2010, which decreases by 13% compared to 2009.
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Source: SEC filing on April 21, 2011.