Arco CEO’s Salary, Bonus Rose 30% in 1996

Atlantic Richfield Co. Chairman and Chief Executive Mike Bowlin’s salary, bonus and other compensation rose 30% to $2.17 million in 1996. Bowlin’s base salary rose 14%, to $955,000 from $835,577 in 1995, according to Los Angeles-based Arco’s annual proxy statement. His bonus increased 43% to $960,000 from $670,000. The executive’s other compensation totaled $254,147 in 1996, compared with $166,020 the previous year. This included savings plan and insurance contributions and financial counseling reimbursements. He received an additional $1.6 million in 1996 after exercising options on 17,941 shares compared with none last year. He received 3,036 shares of restricted stock valued at about $386,331.