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.
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