Mar. 26--The top executive at Charlotte-based EnPro Industries received more than $2.5 million in total compensation in his first year with the company, according to a company filing with federal regulators this week.

Stephen Macadam became president and chief executive in April 2008. The company filed its proxy statement Tuesday with the Securities and Exchange Commission. The Observer counts salary, bonus, stock grants, the gain on exercised stock options and certain other payouts as total compensation.

Macadam's salary last year was $587,019, and he received about $1.6 million in bonus money. He also received $218,221 in stock awards and $92,404 in other compensation, including $22,238 for meals, travel costs and an apartment lease before he moved to Charlotte from Atlanta, where he had been CEO of BlueLinx Holdings, a building products distributor.

EnPro's previous CEO, Ernest Schaub, retired in April but still received more than $4.1 million in total compensation from EnPro last year, down about 9 percent from his 2007 compensation.

Schaub's salary was $647,500, and he received $286,078 in stock awards, more than $1.4 million in bonus and $85,243 in other compensation. He also gained nearly $1.7 million from exercising stock options.

Spun off from Charlotte-based Goodrich Corp. in 2002, EnPro makes sealing products, bearings, compressor systems and components, engines and other engineered products. After closing at $30.58 on the first day of 2008 trading, shares in EnPro climbed to almost $43 in September before closing Dec. 31 at $21.54 -- a nearly 30 percent drop on the year.

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