We need to keep things in perspective. Compensation for all of Dish Network’s top five officers came to $14.2M — far less than Viacom CEO Philippe Dauman’s $43.1M package, or Disney chief Bob Iger’s $33.4M. Still, it’s a big deal when you consider that in 2010 Dish’s top five collectively ended up with $2.6M. The new CEO, Joe Clayton, accounted for most of the increase: He was the highest paid exec by a long shot, with $9.8M ($467,307 salary, $306,700 stock awards, and $9.1M in option awards). The company says it wanted to give a lot of equity to Clayton, who joined the company in June, to ensure that he has “appropriate incentives tied to the performance of Dish Network’s Class A Shares.” Chairman Charlie Ergen, who controls 90.4% of the company’s votes, provided other execs with stock awards that he deemed necessary to keep them. The satellite billionaire paid himself $958,441 ($750,000 salary, and $208,441 in other compensation — mostly personal use of the company jet). If the relatively modest amount doesn’t humble other moguls, perhaps this fact will: Ergen took a 20% raise in a year when Dish shares appreciated 47.5%.
By DAVID LIEBERMAN, Financial Editor | Friday March 23, 2012 @ 7:18pm EDTTags: Charlie Ergen, Dish Network, Joe Clayton
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This article was printed from http://www.deadline.com/2012/03/dish-network-doles-out-somewhat-big-raises-for-top-execs-in-2011/