Connie Lau, president and CEO of Hawaiian Electric Industries Inc., received total compensation of $2.7 million in 2015, according to a filing with the Securities and Exchange Commission.
HEI reported Tuesday the salaries of five top executives. Publicly traded companies typically file documents with the SEC during the spring that detail compensation for their top executives and directors.
Lau’s 2015 salary was less than half of what she earned in 2014 when she made $5.6 million. Her pay package for 2015 is her lowest compensation since 2007 when she earned $1.7 million.
In 2014 Lau ranked second on the list of highest-paid executives in Hawaii. Lau had topped the list of highest-paid Hawaii CEOs for three years in a row before Peter Ho, chairman, president and CEO of Bank of Hawaii, overtook her in 2014.
James Ajello, HEI executive vice president and chief financial officer, made $1.5 million in 2015 compared with $2 million in 2014.
Chet Richardson, HEI executive vice president and general counsel, made $1 million in 2015 down from $1.5 million in 2014.
The top executive of HEI’s electric utility subsidiary, Hawaiian Electric Co. President Alan Oshima, received a pay package of $1.4 million compared with $1.1 million in 2014.
Richard Wacker, president and CEO of HEI subsidiary American Savings Bank, received $1.4 million compared with $1.8 million in 2014.
The state Public Utilities Commission is currently reviewing NextEra Energy Inc.’s proposed $4.3 billion purchase of HEI. The transaction needs PUC approval to close.
If NextEra successfully purchased HEI by the end of 2015, Lau would have walked away with $12.3 million, according to the filing. She would have received $10.1 million if her job was terminated with the change in control and $2.2 million for a retirement payment.
In the filing, HEI announced its annual shareholder meeting will be held on May 4 at 10 a.m. on the eighth floor of the American Savings Bank Tower.