The merger of Northeast Utilities, based in Hartford, and Boston’s NStar has been good for shareholders, helping to boost the combined utility’s stock price by roughly 17 percent. Perhaps no one knows that better than Thomas J. May, the NStar chief executive who engineered the deal.
Now chief executive of the combined company, May has seen the value of stock-based compensation awarded to him over the years appreciate by millions of dollars since the merger closed in April 2012. The total value of May’s stock holdings plus accrued pension benefits exceeded $80 million as of March.