Albemarle CEO Luther Kissam Made Slightly More in 2017

The chief executive officer of Albemarle Corp. made nearly 1 percent more in 2017 than 2016, according to a filing with the Securities and Exchange Commission.

Luther C. Kissam IV, who also serves as the specialty chemical company’s chairman and president, made $8.49 million in 2017, up from $8.43 million in 2016. In 2015, he made $5.26 million.

Kissam made nearly $100,000 more in base salary, which increased 11 percent from $871,500 to $970,500. He also made nearly $180,000 more in his non-equity incentive plan, which increased 10 percent from $1.68 million to $1.86 million.

But his total earnings only rose by about $60,000 because of a decreases in his stock awards and other types of compensation.

Kissam’s stock awards fell $230,000 to $3.46 million, a 6 percent decrease from a 2016 value of $3.69 million. Likewise, all other types of compensation fell from $589,133 to $346,188 from 2016 to 2017, a change of 41.2 percent.

The company reported revenue of $3.1 billion in 2017, up from $2.7 billion in 2016. Net income fell to $99.5 million after totaling $478.6 million in 2016.

Before closing for the Easter holiday break Thursday afternoon, Albemarle Corp.’s stock price finished at $92.74 per share, rising by 3.55 percent, or $3.18.

Charlotte-based Albemarle will hold its annual meeting at 7 a.m. on May 8 at the Renaissance Charlotte SouthPark Hotel, 5501 Carnegie Blvd.