DirecTV CEO Makes $12.5M In 2013, A 31% Drop Due To Cut In Option Awards
At first glance the compensation for Michael White listed in DirecTV‘s new proxy statement looks like a big pay cut. But it may simply reflect an accounting fluke: The satellite company gave him $12M in option awards in 2012 that were recorded in his tally for that year, even though they vest over three years. In any event, he ends up with a tidy $12.5M for 2013 including $1.7M salary, $4.5M in stock awards, $1.6M in option awards, $4.3M in non equity incentives, $211,247 change in pension value, and $333,193 in other compensation. That last category includes $64,491 for his personal use of the company plans as well as $20,000 to match his charitable contributions. DirecTV shares appreciated 37.7% last year. White’s package is 2.7 times the median for his four top lieutenants, which is slightly below the threshold of 3X that many corporate governance experts say suggests a CEO’s pay is out of whack. The proxy shows that 6.9% of DirecTV shares are owned by Berkshire Hathaway, the company controlled by billionaire investor Warren Buffett who takes a dim view of bloated executive pay. DirecTV’s annual meeting will be held in New York on April 29.
Related stories
DirecTV Announces $6B Stock Repurchase As U.S. Sub Growth Slows In Q4
DirecTV Plans To Simplify TV Program Offers And Bills
DirecTV CEO Vows To Resist Cable Concentration, And High Charges For Weather Channel And Dodgers
Get more from Deadline.com: Follow us on Twitter, Facebook, Newsletter
