Compensation Rises 6 Pct For CenterPoint's CEO

By SANDY SHORE

DENVER (AP) — The president and chief executive of utility CenterPoint Energy Inc. received total compensation valued at $4.9 million in 2008, up 6 percent from a year ago, according to a regulatory filing Friday.

A little less than one-half of David M. McClanahan's compensation came in the form of stock and option awards that were valued at $2.06 million when issued in February 2008, the filing with the Securities and Exchange Commission said.

The company's stock has lost about a third of its value since then.

McClanahan also received a base salary of $1.05 million; performance-based compensation of $1.58 million and above-market returns on deferred compensation of $50,115.

Other compensation included $2,908 in tax reimbursements, $110,362 in contributions to savings plans and $70,674 in insurance premiums.

In 2007, McClanahan received total compensation of $4.6 million, including a base salary of $1.02 million, performance-based compensation of $1.4 million and stock and option awards worth nearly $2 million.