ASRC’s top two executives earned nearly $18 million combined in 2021, a 50% increase from 2020

The top two compensated executives at Arctic Slope Regional Corporation (ASRC) earned a combined $17,877,743 in 2021. Butch Lincoln, executive vice president and chief operating officer, earned over $9 million. Rex Rock Sr., the president and CEO, earned just under $9 million. The bulk of their compensation came from short-term and long-term incentive compensation.

Their 2021 compensation is a substantial increase from 2020. Lincoln’s more than $9 million salary was a 54.7% increase from 2020. Rock’s nearly $9 million salary was a 49% increase from 2020.

Alaska Native Corporations are required by law to list the names and compensation amounts of their top five compensated employees. According to their annual report sent to shareholders, ASRC’s earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2021 was up $34 million from 2020 and $15.5 million from 2020. But average shareholder employment went from 474 in 2019 to 345 in 2021, a decrease of 27%.

Pages 36-40 of the annual report describe how their short and long-term compensation is structured. Short-term measures a one-year period and long-term measures a three-year period.

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Jimmy Carlisle
3 months ago

The Rich get richer, they learned from the white man, who taught them how to screw over, their own people, which 8s sad, because once in power, they make sure only their family members and close friends get the best of the best high paying jobs. It’s simple, they are slightly educated and they know how to bullshit their way and make others believe they are the greatest thing that happened to their own native people. They need to be look at closely by the Federal Government for Fraud. They rip off their Own people and most like sell out… Read more »

Wage Slave
3 months ago

Funny thing is they just announced a 5% raise for their north slope workers. Guys who’ve been there 10+ years say they’ve never seen a COLA and with inflation running like wildfire they give 5% and say the insurance they offer will offset the other 3% of inflation that’s out there right now. Gas is up over 40% from last year and they say their insurance helps offset inflation. What a joke! They qualify for federal employee health benefits because they’re a tribal organization that holds government contracts. Really gonna dangle that carrot as an inflation offset when it’s probably… Read more »

Thank you Jeff
3 months ago

This is a disgrace. And those who cite executive compensation at other corporations in an attempt to justify these obscene benefit packages are simply guilty of saying that two wrongs make a right. Just because other executives are over-compensated in the US does no make this OK. Who is responsible for approving this kind of ludicrous compensation? This money could do so much good. Instead it is being hoarded by a few well-connected bosses while the employees and shareholders are cut out.

Ridiculousness
3 months ago

I was a shareholder laid off due to the pandemic and these folks are padding their pockets. So ridiculous, the board members need to be changed or nothing is going to improve for the rest of us shareholders that aren’t on the board or closely related to a board member.

Ridiculousness
3 months ago

I am shareholder that was laid off after 17 years of loyalty with the corporation- due to the pandemic and these folks are padding their pockets. So ridiculous, the board members need to be changed or nothing is going to improve for the rest of us shareholders that aren’t on the board or closely related to a board member. One of the 5 year strategic initiatives was supposed to be increasing shareholder hire and development. I can attest from first hand experience that ASRC isn’t actually serious about that initiative at the board level when they let a 17 year… Read more »

R. Hanlon
2 months ago

Excellent reporting, Jeff.