Comcast executives take a pass on pay raises
Comcast CEO Brian Roberts and other top executives at the nation’s largest cable operator won’t be getting pay raises this year.
According to a Securities and Exchange Commission (SEC) filing on Friday, Chief Financial Officer Michael Angelakis, Chief Operating Officer Stephen Burke and Executive Vice President David Cohen are also forgoing raises in 2009.
Comcast also said in the same Securities and Exchange Commission filing that Roberts gave up the right for his estate to receive his base salary and bonuses for up to five years after his death.
Roberts also elected to relinquish his right to reimbursement and tax-related payments from the company in connection with the premiums for his term life and split-dollar life insurance polices, according to the filing.