RGC Resources CEO Paul Nester's 2023 pay jumps 79% to $1.1M
RGC Resources reports 2023 executive compensation
By ExecPay News
Published: December 1, 2023
RGC Resources reported fiscal year 2023 executive compensation information on December 1, 2023.
In 2023, three executives at RGC Resources received on average a compensation package of $678K, a 70% increase compared to previous year.
Average pay of disclosed executives at RGC Resources
Paul W. Nester, Chief Executive Officer, received $1.1M in total, which increased by 79% compared to 2022. 40% of Nester's compensation, or $423K, was in salary. Nester also received $11K of change in pension value and nonqualified deferred compensation earnings, $221K in non-equity incentive plan, $321K in stock awards, as well as $79K in other compensation.
For fiscal year 2023, the median employee pay was $101,574 at RGC Resources. Therefore, the ratio of Paul W. Nester's pay to the median employee pay was 10 to one.
C. James Shockley, Jr, Chief Operating Officer, received a compensation package of $525K, which increased by 72% compared to previous year. 46% of the compensation package, or $243K, was in salary.
Lawrence T. Oliver, Secretary, earned $455K in 2023, a 52% increase compared to previous year.
RGC Resources' fiscal year ends on September 30.
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Source: SEC filing on December 1, 2023.