Chief Executive Glenn Kellow and other executives at Peabody Energy got smaller bonuses last year because of a coal mine fire in Australia.
Kellow's bonus was reduced to $884,783, or 64 percent of the target value, Peabody discloses in a filed Wednesday.
Peabody's bonus formula, based on measures of cash flow, earnings and safety, called for a 169 percent bonus. Other executives' payouts were reduced to 129 percent to account for the cost of the North Goonyella mine fire, and Kellow's was reduced further because he has direct responsibility for the Australian operation.
Kellow recommended the bonus reductions and the board's compensation committee agreed, the document says.
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Kellow's total compensation last year was $7.3 million, down from $20.6 million in 2017.ÌýPeabody got just 58 percent shareholder approval for its 2017 pay plan, and it says large investors expressed concern about the "magnitude" of compensation.
The investors also wanted to see a greater link between pay and performance, the proxy statement says. As a result, Peabody made changes this year, removing a personal performance component from the bonus formula and tying a majority of stock awards to performance.
Kellow's salary was $1.08 million after a 7.6 percent raise. Stock valued at $5.2 million was the biggest part of his pay package, but $3.3 million of that depends on a three-year assessment of profit, environmental and shareholder-return measures.
In 2017, Kellow's pay was boosted by a $15 million stock award after the company exited bankruptcy. None of that award was performance-linked.
Kellow's perquisites last year included $22,894 and a $561 tax gross-up for flights when his wife accompanied him on business trips.
Kellow's golden parachute -- the amount he would receive if he leaves Peabody after a takeover -- is valued at nearly $25 million. That includes $7 million in severance and other cash payments plus $17.9 million for unvested stock awards.
Peabody says its CEO earned 53 times as much as the median employee last year, down from 173 times in 2017. It calculates median pay of $139,423 for its 7,148 employees.
Peabody's earnings per share, before extraordinary items, fell 43 percent last year and its stock price slid 23 percent.
Here's what 30 St. Louis CEOs earned in 2017:
Meet the 30 top-paid CEOs in St. Louis, 2017 pay
* Jeffrey S. Hollister, American Railcar Industries
Hollister left the company on Dec. 31, .Ìý
30. Timothy D. Boyd, Peak Resorts
In January, .
29. Earl R. Refsland, Allied Healthcare Products
28. Robert L. Montgomery, Reliv International
27. Jon P Vrabely, Huttig Building Products
; CEO earned 20 times as much as median Huttig employee. The company says its 1,300 full- and part-time workers earn a median of $47,091.
26. James B. Lally, Enterprise Financial
.ÌýEnterprise calculates that the CEO made 16 times as much as its median employee, who earned $60,000.Ìý
25. Robert D. Moore, Foresight Energy
From March:Â
24. Mike Anderson, Avadel Pharmaceuticals
.
23. Sharon John, Build-A-Bear Workshop
;ÌýJohn earned 306 times as much last year as the median Build-A-Bear employee. Median pay was $6,198 for the Overland-based company's 4,455 U.S. and British workers.Ìý
22. Eric H. Brunngraber, Cass Information Systems
21. Charles R. Gordon, Aegion
;ÌýGordon made 36 times as much as the median employee's compensation of $73,848. The Chesterfield-based pipe-repair company employs 6,242 people worldwide.
20. V.L. Richey Jr., Esco Technologies
19. Suzanne Sitherwood, Spire
18. Jeffrey S. Davis, Perficient
. Its 2,078 workers in the United States, China and India earned a median $96,193.
17. David P. Hatfield, Edgewell Personal Care
16. David Kemper, Commerce Bancshares
15. Alan R. Hoskins, Energizer
From January:
14. John Stroup, Belden
;Ìýthe CEO earned 133.6 times as much as the median Belden worker, who made $52,487 last year.
13. Anna Manning, Reinsurance Group
;ÌýManning's pay is 66 times as much as the median employee earned last year. Median pay for the company's 2,741 employees was $107,171.
12. Diane M. Sullivan, Caleres Inc.
. Median pay for its 12,055 workers was $21,528 (about 40 percent of its employees are part-time/temporary/seasonal).
11. John E. Fischer, Olin
. Olin employs 6,526 people worldwide.
10. Warner L. Baxter, Ameren
;ÌýBaxter earned 66 times as much as the median Ameren employee. Ameren employs 8,600 people and says they earn a median of $122,003.
9. Robert V. Vitale, Post Holdings
8. John W. Eaves, Arch Coal
.
7. David Farr, Emerson
From February:
6. Ronald J. Kruszewski, Stifel
Stifel reported that its CEO earned 92 times as much as its median employee. .
Mark C. Trudeau, Mallinckrodt
; Mallinckrodt CEO Mark Trudeau's pay in 2017 was 102 times as much as the median company employee, who earned $146,870.
4. Timothy Wentworth, Express Scripts
. Median pay for its 26,600 workers was $52,509.
3. Hugh Grant, Monsanto
From April:
2. Glenn L. Kellow, Peabody Energy
. Peabody's 7,148 employees in the United States and Australia earned a median $118,812 last year.
1. Centene, Michael Neidorff
The CEO earned 379 times as much as the median Centene employee, . The company's 33,312 workers earned a median $66,600, including medical premiums.
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