If the proposed merger between Hawaiian Electric Industries and NextEra Energy goes through, HEI executives stand to make a pretty penny — $17.15 million, to be exact. ADVERTISING If the proposed merger between Hawaiian Electric Industries and NextEra Energy goes
If the proposed merger between Hawaiian Electric Industries and NextEra Energy goes through, HEI executives stand to make a pretty penny — $17.15 million, to be exact.
HEI shareholders on Wednesday approved both the merger agreement with NextEra and the compensation the company’s three top executives stand to make as a result.
If the deal goes through, Constance Lau, the company’s president and CEO, would take home $10.66 million, including $6.85 million in cash and $3.03 million in equity, according to a document filed by NextEra with the U.S. Securities and Exchange Commission.
In 2014, Lau reportedly made $5.6 million in total compensation, including a base salary of $815,000.
James Ajello, HEI’s executive vice president and chief financial officer, would receive $3.7 million, including $2.13 million in cash and $1.22 million in equity. Chet Richardson, executive vice president and general counsel, would receive $2.8 million, including $1.64 million in cash and $820,000 in equity.
While 76 percent of HEI’s approximately 107 million shares outstanding voted in favor of the merger, 68 percent approved the compensation figures, according to a filing with the SEC.
