The Charlotte Observer reported that the compensation for Charlotte based Nucor's top executive rose about 5% in 2010 as the company returned to profitability and chairman and CEO Mr Daniel DiMicco was again awarded a bonus.

Mr DiMicco's compensation totaled just over USD 3 million, mostly in the form of salary, bonus and restricted stock that will vest over the coming years.

Nucor also gave Mr DiMicco stock options worth USD 3.75 million to compensate for his pay being below the industry average. Mr DiMicco did not exercise any options in 2010.

Nucor said executive salaries were unchanged for 2010 due to the continuing weak economy. Executives got bonuses again after not receiving any last year, when the company took a loss, though they also earned reduced amounts of stock due to the company missing some goals.

The compensation committee, chaired by director Mr Victoria Haynes, a technology and research company executive, wrote that "In 2010, Nucor returned to profitability amid an extremely challenging economic environment. Executives received no annual incentive based on our return on equity performance but were rewarded for revenue growth."

Nucor is comparatively light on perks, not allowing executives personal use of company aircraft, and executives' other compensation consisted only of small 401(k) matches. Two executives who retired in 2010 received lower, prorated salaries and bonus awards, but severance packages raised their total compensation. Former executive vice president Mr Joseph Rutkowski made USD 2.4 million and former executive vice president Mr D Michael Parrish made USD 2.6 million.

The filing listed other executives' compensation: president and COO Mr John Ferriola (USD 2.3 million), chief financial officer Mr James Frias (USD 1.1 million), executive vice president Ms Keith Grass (USD 1.1 million) and executive vice president Mr Hamilton Lott Jr (USD 1.2 million).

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