General Mills and Hormel will be powered entirely by the wind

A Star Tribune analysis shows that options exercised plus newly vested stock awards pumped up 2018 compensation to $65.6 million last year for Stephen Hemsley, the executive chairman at UnitedHealth Group.

In September 2017, Hemsley shifted from his previous job as chief executive to executive chairman at Minnetonka-based UnitedHealth, which is Minnesota's largest company.

Hemsley and the four other executives identified this month in a regulatory filing as the company's highest-paid employees collectively in 2018 received compensation of about $117 million, according to a Star Tribune analysis, which factors the value realized during the year from stock-based compensation awarded in earlier years.

The collective compensation tally for the five executives was lower at about $69 million according to the regulatory filing's summary compensation table, which includes a projected value for stock awards granted during 2018.

On the summary table, the highest-paid executive was Andrew Witty, who started effective July 1 as chief executive of UnitedHealth Group's Optum division, which sells a variety of health care services.

Most of Witty's $21.2 million in pay came by way of stock-based compensation that depends on future performance. It includes a new-hire award with a projected value of $10 million that vests over five years.

As reported on the filing's summary compensation table, Witty's pay for 2018 topped pay for Chief Executive David Wichmann ($18.1 million). According to the Star Tribune's method, however, Wichmann's pay came in at $21.5 million compared to about $2.8 million for Witty.

Christopher Snowbeck

Two of Minnesota's largest food companies announced new wind-power purchase agreements this month.

General Mills signed a 15-year purchase agreement with Roaring Fork Wind of Texas. When coupled with its 2017 wind-power agreement, the project will offset all of the electricity used at Golden Valley-based food maker's owned U.S. facilities for the next decade and a half. It's the company's second and largest wind-power purchase agreement.

Hormel Foods Corp. made a wind-power commitment earlier this month with a purchase agreement negotiated by Kinect Energy Group in Nebraska. The agreement helps the Austin, Minn.-based meat company counter nearly 50% of its energy use through renewable wind power.

General Mills' goal is to reduce its total greenhouse-gas emissions by 28% by 2025 — from the original benchmark set in 2010. The new agreement will fund the construction of a Maverick Creek wind project in central Texas, creating renewable-energy credits for the food company. The farm is expected to be up and running in 2020.

"General Mills began its milling operations more than 150 years ago with water power from the banks of the Mississippi River," said John Church, supply chain and global business solutions officer at General Mills, adding that this ties back to the company's "clean power roots."

Hormel also subscribes to community solar gardens at five manufacturing locations.

"We are inspired by projects that minimize environmental impacts and align with the interests of our customers and consumers around the world," said Tom Raymond, director of environmental sustainability at Hormel Foods, in a statement.

Kristin painter

Thinkful, a software-coding school, is rolling out an alternative-tuition model in the Twin Cities and two other communities. Thinkful, which offers online classes and mentors, has introduced the "Thinkful Living Stipend" to students in the Twin Cities, Atlanta and Denver.

Students receive $1,500 monthly living stipends to cover expenses such as rent throughout the five months of schooling. They repay 15% of their post-graduation salary over four years. The amount is capped at $40,000. Repayment starts when graduates earn at least $40,000.

The traditional full-time web-development boot-camp course is $16,000. The "flexible web development boot camp is $9,500 for 6 months.

"We find a lot of students have the talent and ambition to attend Thinkful but can't afford it," said CEO Darrell Silver, who founded the company in New York City. "We 're in a place where we can open the program to people who can't afford the tuition up front."

Silver said Thinkful has placed 1,000-plus over seven years.

"We give the them a certificate of completion and we get them a job," he said. "In Minneapolis, graduates on average make $75,000. We see that tech community growing. We don't replace 4-year college. Our average student is 30. We think of Thinkful as a way to your next job."

Neal St. Anthony