Dominion Resources CEO Farrell made $10.9M in 2013

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Associated Press

Posted on March 27, 2014 at 12:01 PM

RICHMOND, Va. (AP) — Dominion Resources Inc. CEO Thomas Farrell II received a pay package valued at $10.9 million in fiscal 2013, up 33 percent from the previous year.

That's according to an Associated Press analysis of data filed by the Richmond-based energy provider with regulators.

The bulk of the jump came from a 60 percent increase in Farrell's performance-based bonus, which totaled $5.15 million.

His salary increased 4 percent to about $1.35 million, his stock awards were valued at $4.2 million and he received about $210,000 in other compensation.

Last year, Dominion's operating earnings — its primary performance measurement — increased 7.5 percent to $1.88 billion. Revenue increased about 2 percent to $13.1 billion.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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