: ConocoPhillips CEO total pay dropped 16% in 2022 even as stock soared more than 60%


Oil and natural gas producer ConocoPhillips COP, -2.09% disclosed Friday that Chief Executive Ryan Lance‘s total 2022 compensation was $19.97 billion, down 16.4% from $23.89 million a year ago. His 2022 compensation included a 4.4% raise in his base salary to $1.69 million and a 32.0% drop in non-equity incentive plan compensation to $3.43 million. Lance didn’t receive earnings related to changes in pension value and nonqualified deferred compensation, after receiving $2.52 million in 2021. “All other compensation” jumped 77.3% to $552,024, which included $263,583 for the personal use of company aircraft. In the pandemic year of 2020, Lance’s compensation was $28.05 million. Meanwhile, ConocoPhillips’ stock soared 63.5% in 2022 and 80.5% in 2021. In comparison, the Energy Select Sector SPDR exchange-traded fund XLE, -1.57% rallied 57.6% in 2021 while the S&P 500 SPX, -1.10% dropped 19.4%. So far in 2023, ConocoPhillips’ stock has dropped 18.3%.

This article was originally published by Marketwatch.com. Read the original article here.

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