BSkyB CEO Jeremy Darroch's Pay Drops to $7.9 Million
A long-term incentive program that vests only every other year caused his compensation to fall more than 70 percent
BSkyB CEO Jeremy Darroch's annual compensation for the fiscal year ended in June amounted to $7.87 million (£4.88 million), down more than 70 percent, the company disclosed in its annual report on Monday.
The company's long-term incentive program sees stock awards only vesting every other year, causing big year-over-year changes. In the previous year, Darroch had earned just over $27.40 million (£17.0 million), with $20.17 million (£12.5 million) coming from the long-term incentive payouts.
For the latest year, the CEO of BSkyB, in which Rupert Murdoch's 21st Century Fox owns a 39 percent stake, made a base salary of $1.55 million (£960,700), up slightly, his maximum bonus of $3.10 million (£1.92 million), also up slightly, and $2.90 million (£1.80 million) from a co-investment plan, also up.
Darroch's taxable benefits also rose while his pension payments declined slightly. About the higher salary, BSkyB said it was increased by 2.75 percent in 2013 due to Darroch's "excellent performance."
BSkyB also said that James Murdoch, for his role as board member, earned $153,250 (£95,000), just slightly more than for the previous year.