Dan River spill costs Duke Energy execs

Duke Energy’s coal ash spill into the Dan River cost its chief executive about $600,000 in pay last year, according to a securities filing Thursday.

CEO Lynn Good earned total compensation of $8.3 million in 2014, her first full year as chief executive, according to Duke’s annual proxy statement to shareholders.

That’s up about 28 percent from the $6.4 million Good earned in 2013. The jump is largely because the former chief financial officer was named CEO, with a higher salary, in mid-2013.

The Dan River spill and other coal ash issues have cost Duke $192 million so far, including a proposed $102 million to settle federal criminal charges.

Top executives are sharing the pain. Short-term incentives for the top five officers were reduced by about 35 percent last year.

The $1.1 million Good earned in short-term incentives was down about $600,000 from the $1.7 million she would otherwise have earned. Other top executives’ incentive pay varied.

Eighty-five percent of Good’s pay is based on performance or stock awards.

Duke shareholders will meet for their annual meeting on May 7 in Charlotte.

This story was originally published March 26, 2015 at 5:50 PM with the headline "Dan River spill costs Duke Energy execs."