Milwaukee-based WEC Energy Group gave its executives raises in 2015, in part as reward for completing the $9 billion acquisition of Integrys Energy Group. And it plans to increase director pay to match the new company size.
Chairman and chief executive officer Gale Klappa, who received $12.5 million in compensation in 2014, received $13.8 million in compensation in 2015. His base salary was $1.3 million last year, and he received a variety of stock and option awards, as well as an incentive payout and other bonuses.
Alan Leverett, president of WEC and Klappa’s successor come May, earned $6.8 million in total compensation in 2015, up from $6.5 million in 2014.
WEC’s compensation committee also decided to increase the restricted stock award for its annual non-employee director compensation beginning in 2016 by $25,000, to $125,000 “in light of the increased size of the company as a result of the Integrys acquisition.”
The highest paid director in 2015 was Thomas Fischer, who earned $220,578 in fees, stock awards and bonuses.
