UPDATE: Marathon Petroleum reports executive pay

 Marathon Petroleum Chief Executive Officer Gary Heminger earned $12.8 million in 2013, the company reported Tuesday.

 It was much less than the $20.4 million he received in 2012. But the entire decline can be attributed to Heminger’s pension value and non-qualified deferred compensation earnings showing no change, whereas last year it increased by $8 million.

Otherwise, Heminger’s compensation increased by 3 percent.

His salary grew last year to $1.5 million from $1.3 million, Marathon Petroleum reported to the Securities and Exchange Commission. A performance-based bonus increased to $3.4 million from $3.3 million. His stock awards grew to $4.7 million from $4.6 million. Stock options declined to $2.9 million from $3 million in 2012.

His other perks, of $374,912, included $328,731 in contributions to his retirement plan; $40,408 in personal use of company aircraft; $3,659 in tax and financial planning; and $2,114 in an enhanced physical for executives.


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