Total compensation for Lachlan Murdoch, executive chairman and CEO of Fox, came in at nearly $27.7 million, down 5% from just over $29 million, according to a proxy statement filed Friday with the Securities and Exchange Commission that details salaries of the top five highest paid corporate executives.
The duo is among the most highly compensated in a highly paid stratosphere of media CEOs. Companies reporting on a calendar year mostly report pay in the spring and the number that came out then were widely criticized not only because of the broad economic fallout of Covid, but also because CEOs, after the pandemic hit last spring, seemed to want to share the pain by forgoing or reducing base salaries. The Murdoch’s both did that for a time last year.
Rupert’s package included a $3.75 million base salary; stock awards for over $5 million; option awards for $1.75 million; non-equity incentive plan compensation (like a bonus) of $10.5 million; and change in pension value and nonqualified deferred compensation earnings of $9 million.
Lachlan’s pay broke out to a base salary of $2.25 million; stock awards of nearly $8 million; option awards of $2.75 million; non-equity incentive plan compensation (like a bonus) of $10.5 million; change in pension value and nonqualified deferred compensation earnings of $2.9 million. His “all other compensation” column was $1.3 million, mostly for residential security.
Fox will hold its annual shareholders meeting on Nov. 10 at 10:00 a.m. PT at the Zanuck Theatre at the Fox Studio Lot in LA.
The proxy said chief operating officer John Nallen and chief legal and policy officer Viet Dinh each earned $12.4 million. Chief financial officer Steven Tomsic earned $7.4 million.
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