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The St. Louis electric utility discloses details of its officers' pay in a filed Thursday.

Baxter's salary rose 4 percent to $1.04 million and his $1.2 million bonus was 116.6 percent of the target amount. Ameren's bonus plan would have paid 107 percent based on targets for earnings, safety and reliability, and the compensation committee used an "individual performance multiplier" to boost the CEO's payout.

Baxter also received performance stock units valued at $3.7 million, plus $538,752 in increased pension value and above-market earnings on deferred compensation. His perquisites included $10,000 worth of financial planning services.

The stock units' eventual value depends on Ameren's total shareholder return between 2016 and 2018. A similar three-year award from 2014 paid out at 92.5 percent of the target number of shares, but was worth more than that because Ameren's share price has risen. Baxter's 2014 stock awards were originally estimated at $2.86 million, but the units he received were worth $3.46 million at the end of last year.

Baxter's golden parachute — the amount he would receive if he leaves Ameren after a takeover — is worth an estimated $32.6 million. That includes $7.3 million in cash severance, $12.5 million worth of unvested performance stock units, $1 million in pension credit and $11.7 million to pay excise taxes.

The proxy statement says shareholders have submitted three proposals to be voted upon at the annual meeting April 27. The proposals, all of which are opposed by Ameren's board, ask for new reports on aggressively adopting renewable energy, global warming and coal waste.

Ameren's earnings per share rose 3.5 percent last year and its share price climbed 21 percent.