NEW YORK — Xcel Energy Inc. chief executive Richard Kelly received a pay package worth $4.8 million in 2008, down 16 percent from his year-earlier payout, according to an Associated Press calculation of figures disclosed in a filing with the Securities and Exchange Commission made Monday.
The Minneapolis-based utility gave Kelly a pay package valued at $5.8 million in 2007.
Kelly, 62, received a salary of about $1.2 million in 2008 and performance shares and performance-based restricted stock units valued at $3.6 million on their Jan. 1, 2008, grant date. These units are worth less today, as the company’s share price has shed more than 20 percent since the grant date. In 2007, Kelly’s salary totaled $1.1 million, and he received performance shares and restricted stock units valued at $3.3 million on their grant date.
Kelly did not receive a performance- based bonus in 2008, while in 2007 he got a performance-based bonus of $1.1 million.
In 2008, Kelly also received $108,018 in other compensation, which includes $47,000 in company contributions to his retirement and savings plan, $30,000 in a perk allowance and $22,596 in accrued vacation pay.
