Charter CEO Tom Rutledge’s Pay Rises To $8.16M In 2018
Charter Communications chairman and CEO Thomas Rutledge made $8.16 million in salary and incentives in 2018, a 5% rise over his 2017 total compensation. The company, the nation’s second-largest cable operator, revealed the numbers Thursday as part of its annual proxy filing with the SEC.
The biggest boost for Rutledge came from greater non-equity incentive plan compensation ($5.74 million, up from $5.49 million a year ago) as well as “all other” compensation, the latter number almost doubling year-over-year to $419,145. His salary remained the same at $2 million.
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Other top company execs saw similar boosts, according to the filing, save president and COO John Bickham, whose total compensation dipped from $4.88 million to $4.73 million owing to a change in his pension value and deferred compensation.
The news comes as Charter’s revenue increased by 4.9% to $43.6 billion in 2018, with adjusted EBITDA up 5% to $16.1 billion. In January it reported strong Q4 2018 results, with the stock jumping as executives expect a hefty $2 billion drop in capital expenditures in 2019 after two years of integrating its large 2016 acquisitions Time Warner Cable and Bright House Networks.
Charter’s stock price closed Thursday at 352.71, up 4%+ and near its 52-week high of 354.47.
Rutledge, the 40-year cable industry veteran who previously ran Cablevision and TWC, has been chairman of the board of directors of Charter since May 2016 and CEO since February 2012.
Charter also said in its proxy that the company’s annual shareholders meeting is set for April 23.
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