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Nucor CEO made $8.9 million in 2015, flat from previous year

In this file photo, a Nucor employee sprays water on molten steel which solidifies the end capping off a strand where steel plates are cast. The Charlotte-based company disclosed Friday that CEO John Ferriola made $8.9 million in 2015.
In this file photo, a Nucor employee sprays water on molten steel which solidifies the end capping off a strand where steel plates are cast. The Charlotte-based company disclosed Friday that CEO John Ferriola made $8.9 million in 2015.

Nucor CEO John Ferriola’s total compensation held steady in 2015, a year in which the steel maker’s profits fell by about half.

The Charlotte-based company awarded Ferriola total pay of $8.93 million, which included $1.2 million in salary, $659,640 in bonus pay and $7 million in restricted stock and options. The pay package was about $10,000 less than what he took home in 2014, according to a securities filing Friday.

Ferriola, 63, has been Nucor’s CEO since January 2013, when he succeeded the company’s longtime leader, Dan DiMicco. In 2014, he added the chairman’s title.

In 2015, Nucor posted net earnings of $357.7 million, down about about 50 percent from the previous year. The company’s shares fell by more than 17 percent during the year.

The company “performed modestly when compared against other steel companies” in 2015 “in an environment of continuing challenging steel market conditions,” according to the filing.

The company also disclosed that it will hold its annual shareholder meeting at 10 a.m. May 13 at the Charlotte Marriott SouthPark.

Among the items to be voted on, shareholders will be asked to adopt a majority vote standard, which requires director nominees to receive a majority of votes cast to be elected. Under the current policy, director nominees with the highest number of votes cast are elected.

Rick Rothacker: 704-358-5170, @rickrothacker

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