boston business journal

Nstar CEO Thomas May earned $9.2M in 2011

Tuesday, April 10, 2012

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Sarah Coffey
Financial Reporter - Boston Business Journal

Nstar (NYSE: NST) Chief Executive Thomas May made nearly $9.2 million in total compensation in 2011, a raise of 16 percent.

May's compensation included $1.1 million in salary; $3.6 million in stock awards; a $2 million bonus; $2.5 million in pension and deferred compensation; and $68,722 in other earnings, including financial planning, health and life insurance, company-leased cars, home security systems and tickets to sporting events, according to a filing with the U.S. Securities and Exchange Commission.

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Nstar CEO Thomas May received $9.2 million in 2011 compensation, a 16 percent increase from the previous year. (Courtesy photo)

Chief Financial Officer James J. Judge earned nearly $3.25 million in 2011, a decrease of 35 percent as he received much less in stock awards.

Earlier this month, Connecticut and Massachusetts state regulators approved a bid by Northeast Utilities (NYSE: NU) to buy Nstar in a stock exchange worth roughly $5 billion, clearing the way for the creation of New England's largest utility company.

That transaction closed, Tuesday, the companies announced in a news release. With the merger, May will become president and CEO of Northeast Utilities. Former Northeast Utilities CEO Charles W. Shivery became non-executive chairman of the combined entity's board of trustees.

The combined company, called Northeast Utilities, will have a dual headquarters in Boston and Hartford, Conn. Nstar will become a Northeast Utilities subsidiary.