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The Boston Globe

Business

AG wants utility chief’s pay revealed

Coakley seeks halt to ‘loophole’ in SEC filing

Massachusetts Attorney General Martha Coakley on Thursday called on the Securities and Exchange Commission to eliminate a reporting technicality that allowed Northeast Utilities to withhold a full accounting of chief executive Thomas J. May’s pay in 2012.

May led NStar until early April, when the Boston utility merged with Northeast Utilities of Hartford and May became chief executive of the combined company. Since NStar no longer exists as its own public company, SEC rules say the company need not disclose what May earned in his last three months at NStar, including any bonuses or the millions in accelerated stock awards he was expected to receive as a result of the merger.

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