Lachlan And Rupert Murdoch See Fox Corp. Pay Packages Decline In Fiscal 2022

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Total executive compensation declined for top executives at Fox Corp. in fiscal 2022, compared with a year earlier, according to an SEC filing.

Lachlan Murdoch, who is executive chair and CEO, took home a total pay package of $21.7 million, down from $27.7 million in fiscal 2021.

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On top of a base salary of $3 million, the exec netted an $8.2 million stock award and $6.3 million through a non-equity incentive plan.

Rupert Murdoch, Lachlan’s father and the company’s chair, made $18.4 million, a steep decline from his $31.1 million package in 2021. The main elements were $5 million in base salary, a stock award of $5.1 million and $6.3 million via the company’s non-equity incentive plan.

Viet Dinh, Fox’s chief legal and policy officer, collected $11.2 million, down from $12.4 million a year earlier. COO John Nallen got $10.2 million, compared with $12.45 million. Steven Tomsic was paid a total of $6.1 million, down from $7.5 million.

Along with disclosing executive compensation, the company said in its proxy statement that it has set Nov. 3 as the date of its annual shareholder meeting.

Fox Corp. shares, like those of many other media companies of late, have been in a slump. They have slipped more than 10% in the past year and closed the week at $31.97 after a 3% uptick in today’s trading.

Since 2019, the Murdochs have led a slimmed-down Fox Corp. as a stand-alone entity after the family agreed to sell most of 21st Century Fox to Disney. Rupert Murdoch is also executive chairman of News Corp., which owns Dow Jones, Foxtel Group and other media assets. Lachlan Murdoch is co-chairman of News Corp.

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