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Morris ranks 45th among Avista’s largest shareholders

Scott Morris' 35-year career at Avista Corp. started in 1981, when he was hired for an energy efficiency program wrapping water heaters with insulation. Now chairman and chief executive officer, Morris reflected on his tenure at the company and the "burden" of being the leader to decided to sell the company. (Colin Mulvany / The Spokesman-Review)
From staff reports

Avista Chairman and CEO Scott Morris is the company’s largest individual shareholder.

Morris owned 183,894 shares of Avista stock in October, according to a Bloomberg analysis. He ranked 45th on a list of Avista’s largest shareholders, which are mostly institutional investors.

Part of Morris’ executive compensation is paid in stock awards, said Karen Feltes, Avista’s senior vice president for human resources.

That’s standard practice in the utility industry, and it gives him and other top executives a direct interest in how Avista’s stock performs, she said.

Hydro One is buying Avista’s stock for $53 per share. So, if Morris holds on to his stock until the sale is finalized next year, the shares he currently owns would be worth about $9.75 million.