ITC Holdings CEO Joseph Welch's 2007 pay jumps 30% to $5.2M
ITC Holdings reports 2007 executive compensation
By ExecPay News
Published: April 11, 2008
ITC Holdings reported fiscal year 2007 executive compensation information on April 11, 2008.
In 2007, five executives at ITC Holdings received on average a compensation package of $2.1M, a 52% increase compared to previous year.
Average pay of disclosed executives at ITC Holdings
Joseph L. Welch, Chief Executive Officer, received $5.2M in total, which increased by 30% compared to 2006. 30% of Welch's compensation, or $1.6M, was in bonus. Welch also received $808K of change in pension value and nonqualified deferred compensation earnings, $1.2M in non-equity incentive plan, $735K in option awards, $512K in salary, $260K in stock awards, as well as $90K in other compensation.
Edward M. Rahill, SVP, President — ITC Grid Development, received a compensation package of $1.4M, which increased by 68% compared to previous year. 32% of the compensation package, or $457K, was in bonus.
Linda H. Blair, EVP & CBO, earned $1.4M in 2007, a 88% increase compared to previous year.
Jon E. Jipping, Chief Operating Officer, received $1.2M in 2007, which increases by 117% compared to 2006.
Daniel J. Oginsky, General Counsel, earned $1.1M in 2007, a 73% increase compared to previous year.
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Source: SEC filing on April 11, 2008.