Cheniere Energy Inc. shareholders delivered a rebuke to the best paid U.S. executive, saying in a vote that they opposed his $142 million pay package.
Shareholders of Cheniere, the natural gas export company whose value has more than doubled over the last year, cast non-binding votes against CEO Charif Souki’s 2013 compensation plan during an annual meeting on Sept. 11, the company said in a Sept. 17 filing. Souki was awarded 6.3 million stock units valued at $133 million that, along with his other compensation, made him the highest paid executive of a publicly traded U.S. company last year.
The vote of more than 87 million shares against the compensation, versus almost 76 million supporting it, was non- binding, making it little more than a barometer of shareholder sentiment toward the pay plan. Cheniere is expected to make the first export shipments of LNG from the U.S. shale boom beginning next year.
Cheniere rose 0.9% to $84.29 at the close in New York on Sept. 17.
Recommended Reading
Well Done Foundation Wins California Orphan Well Project
2024-02-12 - Nonprofit Well Done Foundation will plug orphan wells in Santa Barbara County, California, starting in Orcutt and Santa Maria.
NAPE: Turning Orphan Wells From a Hot Mess Into a Hot Opportunity
2024-02-09 - Certain orphaned wells across the U.S. could be plugged to earn carbon credits.
E&P Highlights: Jan. 8, 2024
2024-01-08 - Here’s a roundup of the latest E&P headlines including the second biggest deepwater gas find of 2023 and new contract awards.
Woodside’s Sangomar FPSO Heads for Senegal
2024-01-02 - Woodside Energy’s converted FPSO is expected to receive first oil from the offshore field in mid-2024.
US Drillers Cut Oil, Gas Rigs for Second Time in Three Weeks
2024-02-16 - Baker Hughes said U.S. oil rigs fell two to 497 this week, while gas rigs were unchanged at 121.