|$853,000 in salary, up 10 percent from 2004;|
|$1.4 million in bonus money, down 8 percent;|
|$7 million in restricted stock; and|
|$2.5 million in stock options awarded in previous years that May exercised in 2005.|
May, 58, was also granted new options to purchase 200,000 shares of stock in future years, more than one-third of all awarded by Nstar in 2005. NStar's senior-most five executives received 70 percent of all Nstar options last year.
A five-year employment agreement with May expired in August 2004. In lieu of a similar employment contract, NStar's board elected to award May a one-time deferred share award of $5 million, with all shares vesting in April, 2009.
Nstar General Counsel Douglas Horan and Chief Financial Officer James Judge each received $2.8 million in total compensation.
Nstar holds its annual meeting on May 4 in Boston. Three trustees stand for re-election: Thomas Dignan, of counsel at Ropes & Gray LLP; Matina Horner, a trustee of BlackRock Funds; and Gerald Wilson, a professor at the Massachusetts Institute of Technology.