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.
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.