Plum Creek Timber (PCL), an owner of timberland in the U.S., CEO Rick Holley gave his bonus back to the company.

Rick Holley was awarded a bonus of 44,445 restricted stock units this year. However, he felt that he didn’t deserve the bonus because investors in Plum Creek Timber didn’t see a return on their investments. The returned stock was worth roughly $1.85 million, reports Fortune.

According to

CBC News, Holley still has over 280,000 shares in Plum Creek Timber. The CEO’s salary in 2013 was $950,000 and his total compensation was over $8 million.

Holley has been the acting CEO of Plum Creek Timber since 1994. Before he served as the company’s CEO, he was its CFO, reports Fortune.

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