Oncor Approves $17 Million Payment to Chief Executive
The board of the Dallas-based utility company Oncor recently authorized a $17 million payment to its chairman and chief executive, Robert Shapard. Three other executives are receiving payments of more than $2.7 million apiece, according to a filing with the Securities and Exchange Commission on Nov. 21, the day before Thanksgiving.
Oncor is responsible for operating a huge network of power lines in North Texas. It is majority owned by Energy Future Holdings, a severely indebted power company, though Oncor has a separate board of majority-independent directors.
The bonuses come under a Stock Appreciation Rights plan set up five ...
Comments (5)
Carolyn Qualls via Texas Tribune on Facebook
so the next thing that will happen is bankruptcy that's capitalism!
David Guel
In this time when our economy is "unpredictable" and our congress cannot get a leg on compromising with the white house it is shameful that in Texas we are not embarassed to proclaim such lavish payouts however warranted a board may feel about doing so. I am sure the executives were not actually doing the grunt work of the ground level employees.
Frank Lee
If oncor can justify 17 Million bonus we all deserve a reduction in bills.
How's the Texas energy de-regulation working for you, fellow Texans?
Texans paid for the energy infrastructure when it was built be we get to pay again with
the Oncor's trap.
gypsy314 ne
I guess the rate hikes do pay off for some. Americans suffering and now like always reward the thief's well.
Jim Vance
Christmas certainly came early for him...now what about a discount on my electric bill to give me one, too?