Scana Stock Grants Increased CEO Compensation

Because Scana fell short of its earnings target of $2.97 per share for 2008, earning instead $2.95 per share, the company did not make payments on its earnings per share component of a short-term annual incentive plan, the company said.

However, the company said it rewarded senior executive officers because they and the company achieved other objectives. Timmerman's performance-based bonus was 5 percent higher than in 2007.

His award was based on his contributions and his leadership of other senior executives in achieving the company's overall corporate strategic plan objectives, Scana said.