The chief of the No. 2 cable company lost about $1M in non-equity incentives, but otherwise held steady vs 2010, according to Time Warner Cable’s proxy statement. The package: $1.3M salary, $3.2M stock awards, $4.2M option awards, $7.2M non-equity incentives, $111,910 change in pension value, and $439,456 in other compensation. The “other” category includes $339,779 for personal use of of the company aircraft. Time Warner Cable shares lost 2.8% of their value in 2011. Britt made nearly twice as much as COO Robert Marcus. But his $8.4M compensation was up 38.7% to reflect his additional title last year as company president and “the importance of retaining him in light of the Board of Directors’ long-term succession planning strategy.” Britt’s compensation was 3.8 times higher than the average for Time Warner Cable’s other top executives. Corporate governance watchdogs usually consider that to be lopsided, and a red flag for investors.
By DAVID LIEBERMAN, Financial Editor | Tuesday April 3, 2012 @ 5:35pm EDTTags: Glenn Britt, Time Warner Cable
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This article was printed from http://www.deadline.com/2012/04/time-warner-cables-glenn-britt-made-16-4m-in-2011-down-5-7/
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