Chesapeake files amended SEC report

The same day of a Reuters report that Chesapeake Energy was close to possibly filing bankruptcy, the company filed an amended proxy statement with the Securities and Exchange Commission.

It detailed payments to the board of directors as well as company’s executive officers.

Board chairman R. Brad Martin received total payment of $650,000 while members Luke Corbett, Mark A. Edmunds, Gloria R. Boyland and Leslie S. Keating received payment of $350,000.

Scott Gieselman’s payment was $219,000 while David Hayes was paid $320,000. Merrill “Pete” Miller, Jr. received payments of $365,000 and Thomas L. Ryan was paid $375,000 for his attendance at the meetings of the board.

The SEC filing showed company President and CEO Robert “Doug” Lawler had a base salary of $1,345,000 in 2019 while Executive Vice President and Chief Financial Officer Domenic Dell’Osso, Jr.’s base salary was $750,375.

Frank J. Patterson, Chesapeake’s Executive Vice President of Exploration and Production had 2019 base salary of $683,100 while James. R. Webb, Executive Vice President-General Counsel and Corporate Secretary drew a base salary of $646,875.

William J. Buergler, Chesapeake’s Senior Vice President and Chief Accounting Officer drew $434,700 in his base salary.

Those were the base salaries but incentive goals gave each much more in the form of bonuses.

Click here to view the entire SEC filing.