Nucor’s top executive brought home a bigger paycheck last year as the Charlotte-based steel maker boosted profits amid challenging market conditions.
CEO John Ferriola made $8.9 million in 2014, up about 10 percent, from the prior year, according to a securities filings Thursday.
Ferriola’s total 2014 pay included $950,000 in salary, $2.7 million in stock awards, $4 million in stock options and a $1.3 million bonus, according to the annual proxy filing.
Ferriola, 62, has been Nucor’s CEO since January 2013, when he succeeded the company’s longtime leader, Dan DiMicco. Last year, he also took over the chairman’s title from DiMicco.
Nucor’s profits for the year increased 46 percent to $713.9 million. But total shareholder return, which includes dividends, was down 5.4 percent, even as the S&P 500 index, including dividends, climbed 13.7 percent, according to Bloomberg data.
In its report on executive compensation, Nucor said the company “performed well” when compared to its competition “in an environment of continuing challenging steel market conditions.”
This month, Nucor lowered its first quarter earnings forecast amid concerns that an increased global supply of steel imports is pushing prices down.
Nucor will hold its annual shareholder meeting on May 14 at 10 a.m. in the Morrison Ballroom of the Charlotte Marriott SouthPark, according to the filing.