Top Pike Electric executives receive salary increases [Winston-Salem Journal, N.C.]
(Winston-Salem Journal (NC) Via Acquire Media NewsEdge) Sept. 09--The top executives at Pike Electric Co. received their first salary raises in three years during fiscal 2013, which ended June 30.
The Mount Airy company reported in a regulatory filing that its top five executives also received non-equity incentive-plan compensation for the second consecutive year.
Eric Pike, chairman and chief executive, received a 4.2 percent increase in salary to $704,611. The salary remained 3.4 percent below the $728,745 that Pike was paid in fiscal 2010. Altogether, Pike's total compensation was $2.63 million, up 6.8 percent.
Pike received $792,687 in non-equity incentive-plan compensation, up $154,239 from fiscal 2012. He did not receive a bonus after getting $30,000 in fiscal 2012 and $516,949 in fiscal 2011.
He received stock awards valued at $1.06 million on the date they were awarded and $80,635 in all other compensation, which included $44,479 for personal use of a company aircraft, $13,550 for unused vacation, $10,597 for personal use of a company vehicle, $7,009 for tax reimbursement payments and $5,000 for employer contribution to his retirement plan.
Pike reported $36.2 million in net income in fiscal 2013, up from $10.9 million in fiscal 2012. The company had $918.7 million in revenue for fiscal 2013, up 34 percent from a year ago, as it benefited from recent business acquisitions and Hurricane Sandy power-restoration work.
Audie Simmons, executive vice president of operations, received $434,963 in salary, up 5.6 percent, and $391,467 in non-equity incentive-plan compensation. Anthony Slater, chief financial officer, received $412,779 in salary, up 5.8 percent, and $340,542 in non-equity incentive-plan compensation.
James Benfield, president of Pike Electric LLC, received $364,551 in salary, up 6.3 percent, and $273,413 in non-equity incentive-plan compensation. Timothy Harshbarger, senior vice president of human resources, received $314,461 in salary, up 7 percent, and $235,846 in non-equity incentive-plan compensation.
(c)2013 Winston-Salem Journal (Winston Salem, N.C.)
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