MGE Energy Executive Vice President PFO Jeffrey Newman's 2020 pay jumps 145% to $4.2M
MGE Energy reports 2020 executive compensation
By ExecPay News
Published: March 31, 2021
MGE Energy reported fiscal year 2020 executive compensation information on March 31, 2021.
In 2020, six MGE Energy executives received on average a compensation package of $1.8M, a 26% increase compared to previous year.
Average pay of disclosed executives at MGE Energy
Jeffrey C. Newman, Executive Vice President PFO, received $4.2M in total, which increased by 145% compared to 2019. 73% of Newman's compensation, or $3.1M, was of change in pension value and nonqualified deferred compensation earnings. Newman also received $230K in bonus, $411K in salary, $201K in stock awards, as well as $288K in other compensation.
For fiscal year 2020, the median employee pay was $113,156 at MGE Energy. Therefore, the ratio of Jeffrey C. Newman's pay to the median employee pay was 38 to one.
Jeffrey M. Keebler, Chief Executive Officer, received a compensation package of $2.7M, which increased by 14% compared to previous year. 45% of the compensation package, or $1.2M, was of change in pension value and nonqualified deferred compensation earnings.
Lynn K. Hobbie, Executive Vice President Marketing Communications, earned $1.6M in 2020, a 8% increase compared to previous year.
Tamara J. Johnson, Vice President Accounting and Controller, received $914K in 2020.
Cari Anne Renlund, General Counsel, earned $648K in 2020, a 13% increase compared to previous year.
Jared J. Bushek, Vice President Finance, Chief Information Officer and Treasurer PFO, received $506K in 2020.
Related executives
Jeffrey Keebler
MGE Energy
Chief Executive Officer
Jeffrey Newman
MGE Energy
Executive Vice President PFO
Jared Bushek
MGE Energy
Vice President Finance, Chief Information Officer and Treasurer PFO
Lynn Hobbie
MGE Energy
Executive Vice President Marketing Communications
Cari Renlund
MGE Energy
General Counsel
Tamara Johnson
MGE Energy
Vice President Accounting and Controller
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Source: SEC filing on March 31, 2021.