After naming Domenic J. Dell’Osso, Jr. as the company’s new President and Chief Executive officer this week, Chesapeake Energy also made a filing with the SEC revealing his salary.
Dell’Osso, according to the filing with the Securities Exchange Commission will draw a salary of $800,000 annually. He will also be eligible to receive an annual target bonus equal to 100% of his base salary for 2021 and 125% of his base salary in 2022, in each case, with an opportunity to earn a bonus of 200% of target at maximum performance levels.
The company filing also clarified restricted units that he will receive as President and CEO and also as Chief Financial Officer, a position he will hold until a replacement is named.
In 2022, it is expected that Dell’Osso will receive equity awards with a grant date value of $4,700,000.
The filing also laid out payments to Michael A. Wichterich who resigned as Interim Chief Executive Officer but remains as Executive Chairman of the company. His annualized base salary will be $650,000 along with annual equity awards based on $2 million a year.