Comcast CEO gets pay of $25M in 2009
PHILADELPHIA (AP) – The CEO of cable operator Comcast Corp. received $25 million in compensation for 2009, up 1.3 percent from the prior year, according to an Associated Press analysis of a regulatory filing.
Brian Roberts received a base salary of $2.9 million, up 5 percent from 2008, and a performance-based bonus of $8.2 million, up 11 percent. He has agreed to a freeze on his base salary for the next two years.
Roberts also received stock and options valued at $11 million when they were granted, up 7 percent from similar awards received in the previous year.
His other compensation totaled $2.9 million, down 14 percent from 2008. They consisted mostly of $2.4 million in contributions to the company's deferred compensation plan.
The Associated Press formula is designed to isolate the value the company's board placed on the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation, and the estimated value of stock options and awards granted during the year.
The calculations don't include changes in the present value of pension benefits, making the AP total different in most cases than the total reported by companies to the Securities and Exchange Commission.
In 2009, Comcast earned $3.64 billion, or $1.26 per share, compared with $2.55 billion, or 86 cents per share, a year earlier. Revenue rose 3.9 percent to $35.76 billion. The Philadelphia company's stock finished 2009 relatively unchanged from a year earlier.