Annual meeting: May 14
At Apache, a company that has one year TSR of -26.3%, and 5-year TSR of -8.8%, CEO Steven Ferris received $10.2 million in compensation for 2014. If he worked 40 hours per week that is over $5,000 per hour.
The package included a stock award with a grant date value of over $8 million. Salary – the component of pay guaranteed to be insulated from the company’s falling stock price – remained at $1.75 million. So the CEO will be extremely well paid even if shareholders to suffer. No company with a lower TSR had a CEO with a higher salary.
Insiders have sold stock recently, including EVP Thomas Voytovitch who sold over 3,000 shares last month when the stock was trading well above its current share price.