Shareholders Vote in Mayo Shattuck as Exelon Executive Chair, Board Approves Pay

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Courtesy of Citybizlist – Exelon held its annual meeting of shareholders earlier this month. Former Constellation Energy CEO Mayo Shattuck III received more than the requisite number of votes to assume his new position as Exelon executive chairman.

With the consummation of the merger, Shattuck owns 2.55 million shares in Exelon after converting his prior stake in Constellation to Exelon shares, according to the company’s proxy statement.

Exelon shares closed at $37.94 on Tuesday, making Shattuck’s position worth $96.86 million.

Exelon’s board approved Shattuck 2012 compensation as follows:

– Base salary of $1,150,000
– Annual incentive plan target of 120%
– Performance share award program target of 92,000 performance shares
– Grant of options to purchase 247,000 shares of Exelon’s common stock

Read more at Citybizlist



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