XTO chairman's pay value climbs 38 percent in 2008

HOUSTON, April 3 (Reuters) - Bob Simpson, the founder and chariman of oil and gas company XTO Energy Inc (XTO.N) saw the value of his total compensation rise 38 percent in 2008, filings with the U.S. Securities and Exchange Commission showed on Friday.

Simpson's total compensation was valued at $65.5 million in 2008, up from $47.4 million a year ago. Much of the gain was due to stock awards valued at $14 million.

The 2008 figure includes salary, a $30 million bonus and stock and option awards, according to the company's proxy statement.

Simpson stepped down as the Fort Worth, Texas company's chief executive officer in December 2008.

U.S. public companies are required to disclose the total value of annual pay awards to top executives under SEC rules. The reported figures may differ from how executive pay consultants and others tabulate an executive's annual compensation.

XTO saw its shares fall about 31 percent in 2008, hit by steep declines energy prices. (Reporting by Anna Driver, editing by Leslie Gevirtz)