AT&T chief government John Stankey’s compensation totaled $24.8 million final yr, up from $21 million the yr earlier. In line with a proxy assertion filed with the SEC, retired CEO Randall Stephenson made $16.3 million in 2021 (down from $29 million).
Stephenson stepped down as CEO after 13 years on the helm in July of 2020 and continued as government chairman by way of Jan. of 2021. Proxies normally embrace pay packages for an organization’s 5 highest paid executives. AT&T listed seven together with Stephenson. “AT&T is reporting a seventh NEO [named executive officer] this yr to account for a retired Government Officer who would have been among the many most extremely compensated group if working as an lively Government Officer on the finish of the yr,” the submitting mentioned.
When Stephenson stepped down Jan. 19 of 2021, AT&T mentioned it had entered a one-year consulting contract with him for $1 million. Right this moment’s proxy valued the consulting settlement at an $12 million. which it mentioned “represents the raise on the proration of his excellent efficiency shares. The [Compensation]] Committee accredited this motion to tie Mr. Stephenson’s consulting time period to firm efficiency.”
Stephenson presided over the acquisition of Time Warner, which grew to become WarnerMedia and is within the means of being spun-off from AT&T and merged with Discovery.
The opposite extra title is a spit between two CFOs as Pascal Desroches ($11.7 million) changed John Stephens ($4.1 million) in March of 2021.
Stankey’s package deal included a $2.4 million base wage; inventory awards for $13.4 million and a bonus known as non-equity incentive plan compensation of $6.8 million.
Stephenson’s compensation included a wage of $125,768; $2.9 million for the class known as “change in pension worth and nonqualified deferred compensation earnings”; and $13.2 million in “different” compensation, the majority of which was his consulting settlement as per above.
WarnerMedia chief Jason Kilar wasn’t within the prime group. His compensation in final yr’s proxy, which included inventory awards valued at $48 million in 2020 for a complete package deal of $52 million, made a little bit of noise.
The opposite highest-paid execs named this yr had been Lori Lee, CEO of AT&T Latin America and International Advertising and marketing Officer; chief counsel David McAtee; and Jeff McElfresh, CEO of AT&T Communications.