By James R. Hagerty
Caterpillar Inc. reported Monday a 14% rise in the total
compensation of its chief executive officer, Douglas Oberhelman,
last year.
The increase for the 62-year-old executive came as Caterpillar
managed to push up earnings per share by repurchasing stock last
year even as weak demand for mining and some other types of
equipment continued to depress sales at the Peoria, Ill.-based
company.
Mr. Oberhelman's total compensation in 2014 came to $17.1
million, up from $15 million a year earlier, according to a
securities filing. That latest year's tally was still well below
the $22.4 million Mr. Oberhelman earned in 2012.
Mr. Oberhelman's base pay was flat at $1.6 million. His payment
under an incentive plan grew to $4.9 million from $2.3 million. His
stock option payments rose to $8.4 million from $8 million. The
filing cited the increase in earnings per share and "excellent"
cost controls, among other factors.
Caterpillar reported earnings of $5.88 per share in 2014, up
from $5.75 per share a year earlier. Sales slipped 0.8% to $55.18
billion.
Write to James R. Hagerty at bob.hagerty@wsj.com
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