San Diego Gas & Electric Chairman and President Thomas A. Page's annual compensation rose by 9.1% to $482,375 during 1987, up from $442,042 during 1986, according to figures released Thursday by the utility.
Page's compensation package included a $100,000 bonus for 1987. The utility executive received a $75,000 bonus in 1986. The utility's bonuses are determined by increases in the value of shareholders' stock, reductions in operating and maintenance costs, and reductions in gas and electric rates, an SDG&E spokesman said.
Salaries and bonuses paid during 1987 to other top SDG&E executives included:
Chief Operating Officer Jack Thomas, $256,583, a 6.7% increase over his 1986 salary of $240,500.
Senior Vice President Stephen L. Baum, $200,792, a 3.8% increase over his 1986 salary of $193,375.
Senior Vice President Alton Davis, $189,833, a 2.2% increase over his 1986 salary of $185,792.
Senior Vice President Gary D. Cotton, $172,750, a 3.1% increase over his 1986 salary of $167,500.
As a group, SDG&E's top 16 officers earned $2.6 million in total compensation during 1987. The utility's top 21 executives received $3.2 million in compensation during 1986. During 1987, five SDG&E officers retired, left the company or were transferred to SDG&E's non-regulated Pacific Diversified Capital Co. subsidiary.