Chevron CEO received $17 million from stock
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Chevron Corp. Chief Executive David O’Reilly reaped more than $17 million from exercising stock options and stock awards in 2006, adding to a compensation package worth nearly $13.5 million.
Earnings at the second-largest U.S. oil and gas company rose about 22% to $17.14 billion in 2006 as soaring oil prices boosted earnings and stock prices across the industry.
O’Reilly, 60, cleared about $9.3 million from exercising 487,200 previously awarded stock options and $7.8 million from stock awards during the year, Chevron said in a filing with the Securities and Exchange Commission.
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