April 5, 2018 / 7:40 PM / 19 days ago

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

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.

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

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

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