Overland Park-based Embarq Corp., the nation’s fourth-largest local phone company, has awarded Chief Executive Dan Hesse a 6.5 percent raise and $1.27 million in bonuses following the company’s first year as a stand-alone firm.

In a securities filing released Tuesday, the Overland Park-based company said it had boosted Hesse’s salary from $938,400 last year to $1 million for fiscal year 2007.

He also received $1.27 million in short-term incentive payments and nearly 9,800 restricted stock units in long-term incentive payments.

Embarq, which spun off from wireless parent Sprint Nextel Corp. in May, finished its first year with earnings of $784 million, or $5.21 per share, down from $878 million a year ago. Annual revenue increased 2 percent to $6.36 billion.

The company said traditional wired access lines declined 6.1 percent to 6.9 million during the year, which was better than the mid- to upper-6 percent loss the company had earlier forecast.