PG&E; Boosted CEO’s Pay by 22% Last Year

PG&E; Corp., a California utility owner that had a $2.19-billion loss in the fourth quarter and faces default by a power plant unit, raised the compensation of Chief Executive Robert Glynn by 22% last year, excluding stock options.

PG&E; paid Glynn $7.4 million in cash and other compensation, according to a filing with the Securities and Exchange Commission. Shares of PG&E; fell 28% last year as PG&E;’s utility sought to reorganize in Bankruptcy Court.

Shares of San Francisco-based PG&E; rose 49 cents to $13.66 on the New York Stock Exchange.