- Associated Press - Friday, May 8, 2015

PEORIA, Ill. (AP) - Sales at Caterpillar Inc. dropped slightly in 2014 but CEO Doug Oberhelman’s pay increased 14 percent, to $17.1 million.

Caterpillar paid Oberhelman $15 million in 2013, the The Journal Star in Peoria (https://bit.ly/1cwAAoC ) reported.

Caterpillar spokeswoman Lisa Miller says Oberhelman’s pay increased through an incentive program and was based on a rise in per-share profit.

Oberhelman’s base salary in 2014 was $1.4 million. Miller says that most of the rest - $8.37 million - is in stock options tied to the value of Caterpillar’s stock.

Caterpillar makes heavy equipment such as bulldozers and mining trucks. The company is based in Peoria.

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Information from: Journal Star, https://pjstar.com

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