Mining Execs Get Bonuses Despite Layoffs
Stillwater Mining Co. has approved equity bonuses for top executives less than five months after laying off workers to cut costs.
Securities and Exchange Commission records show that CEO Mick McMullen got 172,560 shares from the company's equity incentive plan, worth about $1 million, based on Friday's share price.
The Billings Gazette reports chief financial officer Christopher Bateman got more than $386,000 and other bosses got bonuses ranging from $88,000 to $55,000.
In September, Stillwater laid off about 120 workers in the Beartooth valley to cut costs.
Stillwater spokeswoman Jen Lawson said the company had no comment.