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Chesapeake Energy CEO got a 51% raise to $22.7 million last year, while the stock plunged 47%

Tomi Kilgore

Chesapeake Energy Corp. Chief Executive Robert Lawler got a 51% raise in 2018, as the oil and natural gas company surpassed many of its performance targets his compensation was based on, while investors suffered a 47% drop in the stock. The SPDR Energy Select Sector ETF fell 21% in 2018 and the S&P 500 lost 6.2%. Lawler made $22,745,427 in 2018, of which $1,300,000 was salary, according to the company's proxy filing with the SEC. In 2017, his total compensation was $14,903,906, down 2.5% from 2016, as the stock fell 44% in 2017. Among some of the metrics used to calculate bonuses, the company surpassed the maximum 200% payout thresholds for improvement in free cash flow and earnings before interest, taxes, depreciation and amortization (EBITDA), while achieving a 67% payout ratio for capital expenditure cuts. In comparison, peer Anadarko Petroleum Corp. Chief Executive R.A. Walker took an 8.5% total comp cut to $15,516,305 in 2018 as the stock fell 18%, after taking a 9% pay cut in 2017 as the stock fell 23%. Meanwhile, Apple Inc. Chief Executive Tim Cook got a 22% raise to $15.7 million in 2018 while the stock fell 6.8%, after getting a 47% raise in 2017 as the stock climbed 46%.