NBCUniversal has its woes, but Comcast execs have little reason to complain about their personal incomes for 2012. CEO Brian Roberts — who controls a third of the voting shares — received a nice bump in pay in a year when Comcast stock appreciated 54%. His package includes $2.8M salary, $4.8M in stock awards, $4.8M in option awards, $9M in non-equity incentives, $4M change in pension value, and $3.7M in other compensation according to the proxy filed at the SEC this afternoon. About $3.3M from the “other” category represents deferred compensation. At least Roberts spread the wealth among his colleagues. His pay amounted to 1.4 times the median for Comcast’s four other top execs, which shouldn’t alarm corporate governance activists who become concerned when the CEO makes more than 3 times the average for other top execs named in the proxy. NBCUniversal CEO Steve Burke ended up with $26.3M, +11.3%. Company founder Ralph Roberts, although no longer an executive, was paid about $36M, much of it reflecting reimbursements for life insurance premiums and his deferred compensation. The board credited Rob ertswith helping to foster diversity initiatives and for “creating a culture of integrity and compliance.” It also says that Burke “successfully managed NBCUniversal” pointing to its 12.7% increase in revenues and 9% growth in operating cash flow. The execs also owe a debt of gratitude to the editors of Fortune Magazine: The board says that its view of Roberts and Burke’s performances was influenced by the publication’s decision to include them in their “Businessperson of the Year” list. Comcast will hold its annual meeting May 15 in Philadelphia. Shareholders won’t be able to vote on whether they approve of the executive compensation. The company schedules the federally mandated votes every three years; the next one will be in 2014.
By DAVID LIEBERMAN, Financial Editor | Friday April 5, 2013 @ 4:50pm EDTTags: Brian Roberts, Comcast, NBCUniversal, Steve Burke
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This article was printed from http://www.deadline.com/2013/04/comcast-brian-roberts-2012-compensation/
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