BETHESDA, MD — Nuclear power provider Centrus Energy paid Chief Executive Officer Daniel Poneman $1.82 million in compensation in 2016, down from $2.48 million in 2015, according to a filing Wednesday with the Securities and Exchange Commission.
Poneman’s base salary increased 23 percent between the two years. The 26 percent decrease in total compensation primarily came from $867,000 in options awards and a $625,000 bonus in fiscal 2015.
The former U.S. Secretary of Energy, Poneman, 61, holds stock options worth another $891,000 based on Wednesday’s closing price of $5.94, down 0.5 percent. The exercise price for the 150,000 shares is $4.31, and the options expire in 2025.
Poneman started as CEO at Centrus in March 2015. According to the company’s most recent proxy statement, his initial base salary is $750,000 per year, and he is eligible for an annual bonus of a minimum 100 percent and maximum of 150 percent of his base salary.
From 2009 to 2014, Poneman served as U.S. Deputy Secretary of Energy. He also served as the chief operating officer of the Department of Energy and has dealt with cases ranging from Fukushima to Hurricane Sandy.
Centrus, formerly known as United States Enrichment Corp., filed for Chapter 11 bankruptcy in March 2014 after determining it would be unable to pay $530 million in debt and $114 million in preferred stock held by two investors.
Under a restructuring plan approved by investors, the company issued common stock and new debt worth $240 million that will come due in 2019.
Centrus Energy closed Wednesday at $5.94, down 3 cents.
This story is from the Maryland Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism