EQT CEO receives $5.3 million in 2008 compensation

EQT said its key 2008 results include achieving earnings per share of $2, an increase in natural gas production sales volume of 12 percent from 2007, completion of three major projects and being added to the Standard & Poor's 500 index.

The company said it agreed with Gerber's assessment that the performance on long-term financing, price risk management and Equitable Gas Co. initiatives exceeded expectations.

However, the compensation committee said the difficult economy in 2008 "made performance on the initiatives more complex than initially anticipated."