Cablevision CEO Jim Dolan's 2012 Pay Jumps to $16.9 Million
Cablevision Systems CEO Jim Dolan saw his 2012 compensation jump 47 percent to $16.9 million.
The company disclosed the pay in a regulatory filing Thursday. He had made $11.4 million in 2011.
Father and chairman Charles Dolan earned $16.6 million in 2012, up about 51 percent from $11.0 million in 2011.
The cable operator is the latest industry company to disclose compensation for its top executives.
Jim Dolan's compensation included an unchanged salary of $1.75 million, $3.9 million in stock awards, up from $2.8 million in 2011 and $6.9 million in option awards, which he didn't receive in 2011. However, his non-equity incentives dropped from $5.3 million to $3.7 million.
Dolan's $592,715 in "other compensation" was more than double the $276,123 he had received in 2011. The difference-makers were higher dividend payouts and perquisites. The latter included car and driver and $191,122 for such things as free cable television, high-speed Internet and telephony services, executive home security, use of the company’s travel department to arrange for personal travel and use of company-owned tickets to sporting and entertainment events.
Cablevision also said in a separate filing that it has entered into a new employment agreement with Kristin Dolan, the wife of Jim Dolan who was this week promoted to the post of president, Optimum Services.
The Dolans recently separated on a trial basis. Kristin Dolan's new contract runs through Dec. 31, 2017 and provides for a base salary of $1 million and an annual target bonus of at least that amount. "She will also be entitled to participate in future long-term cash and equity programs and arrangements that are made available to similarly situated executives of the company, the regulatory filing said.