Fewer Stock Options for  Chevron’s Top Management
Fewer Stock Options for  Chevron’s Top Management

Fewer Stock Options for Chevron’s Top Management

Fewer Stock Options for Chevron’s Top Management

Oil and natural gas producer Chevron Corp said it would give its top executive fewer stock options after shareholders expressed concern about executive pay.
Oil companies have been restructuring pay packages of their top management after a two-year-long slump in oil prices eroded profitability, Reuters reported.
Chevron said on Monday the average support from shareholders for the company's compensation package fell to 54% in 2016 from the 95% it averaged between 2011 and 2015.
Stock options give employees the right to buy a specific number of shares in the future at a pre-determined price.
Chevron said it held 25 meetings with shareholders, who held about 36% of its outstanding stock, and with advisory firms ISS and Glass Lewis.
The company said its board approved a grant to Chief Executive John Watson that included 250,000 stock options, 65,340 performance shares and 32,670 restricted stock units in 2017, compared with 964,800 stock options and 73,600 performance shares in 2016.
Chevron said the changes would strengthen accountability for project performance, investment discipline and reinforce the link between executive compensation and long-term performance.

Short URL : https://goo.gl/YjcuL7
  1. https://goo.gl/3Czzmb
  • https://goo.gl/Quutjv
  • https://goo.gl/ArgPLA
  • https://goo.gl/nkS1QY
  • https://goo.gl/YXvavH

You can also read ...

China Shifts to Iranian Tankers to Keep Oil Flowing
Chinese buyers of Iranian oil are starting to shift their...
Greek Island to Run on Wind and Solar Power
When the blades of its 800-kilowatt wind turbine start turning...
Replacement of France's Total Underway
Oil Minister Bijan Namdar Zanganeh said on Monday France’s...
Vopak: More Volatility Expected in Oil Prices
A shipping revolution and a US plan to impose targeted crude...
Large Oil Vessel Anchors in Chabahar
A large crude carrier with a capacity of 50 million liters of...
SP Oil Layer Loads 19th Cargo
The 19th batch of crude oil from South Pars Oil Layer in the...
Plans to Expand Gas Pipelines by 1,000 Km 
Iranian Gas Engineering and Development Company plans to lay...
Advantages, Challenges of Renewables Outlined
Saving water, creating sustainable jobs, curbing air pollution...

Add new comment

Read our comment policy before posting your viewpoints