Continental Resources boosts CEO Hamm's pay 38 percent in 2017

FILE PHOTO: Harold Hamm, CEO of Continental Resources, speaks during the IHS CERAWeek 2015 energy conference in Houston, Texas April 21, 2015. REUTERS/Daniel Kramer

HOUSTON (Reuters) - U.S. shale oil producer Continental Resources Inc said on Thursday it boosted founder and Chief Executive Harold Hamm’s compensation by 38 percent in 2017.

Hamm, who is the company’s largest shareholder, received $12.3 million in compensation last year, the company said in a regulatory filing.

Hamm received a 46 percent salary increase to $1.2 million. His bonus and stock award also grew during the year, to $3.4 million and $7.6 million, respectively.

The value of perks Hamm received during the year, including personal use of the company aircraft and company vehicle, fell to $60,077.

An executive’s total compensation often includes a base salary, stock grants, bonus and other items.

Shares of Continental initially fell in 2017 but recovered to end the year up about 4 percent.

Reporting by Ernest Scheyder; Editing by Dan Grebler