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Marathon reports pay of executives

By LOU WILIN
STAFF WRITER

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 in 2013, while in 2012 it increased by $8 million.

Otherwise, Heminger’s compensation increased by 3 percent last year.

His salary grew last year to $1.5 million from $1.3 million in 2012, 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.

Garry Peiffer, who retired at year-end 2013 as executive vice president, earned $5.7 million. His compensation included $600,000 salary, $2.7 million in stock awards, $950,000 in a performance-based bonus, $640,002 in stock options, and a $693,379 change in pension value and non-qualified deferred compensation earnings.

His other perks, of $127,939, included $115,500 in contributions to his retirement plan; $10,325 in tax and financial planning; and $2,114 in an enhanced physical for executives.

Chief Financial Officer Donald Templin earned $3.8 million. That included a $631,250 salary, $1.1 million in stock awards, $1.1 million in a performance-based bonus, $672,020 in stock options, and a $192,165 change in pension value and non-qualified deferred compensation earnings.

His other perks, of $130,663, included $115,837 in contributions to his retirement plan; $5,882 in tax and financial planning; and $2,114 in an enhanced physical for executives.

Speedway President Anthony Kenney earned $2.8 million. That included $543,750 salary, $949,914 in stock awards, $765,000 in a performance-based bonus, and $432,000 in stock options.

Kenney’s other perks, of $154,757, included $142,970 in contributions to his retirement plan; $9,673 in tax and financial planning; and $2,114 in an enhanced physical for executives.

Senior Refining Vice President Richard Bedell earned $2.6 million. That included $537,500 in salary, $758,231 in stock awards, $750,000 in a performance-based bonus and $468,024 in stock options.

Bedell’s other perks, of $100,517, included $90,058 in contributions to his retirement plan; $8,345 in tax and financial planning; and $2,114 in an enhanced physical for executives.

Wilin: 419-427-8413
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