Cablevision CEO James Dolan Sees 2010 Compensation Decline
Chairman Charles Dolan also earned less, while COO Tom Rutledge's compensation rose.
NEW YORK - Cablevision Systems president and CEO James Dolan's 2010 compensation of $13.4 million was down from $17.1 million in 2009 as his salary was lowered and he didn't get a nearly $3 million stock options award that he received in 2009, the cable operator disclosed in a regulatory filing on Thursday.
In the filing, the company said it didn't issue stock options last year, and the 2010 bonus column for its top executives was also at zero - unlike in 2009.
Adding in $2.3 million in 2010 compensation from Madison Square Garden, which Cablevision spun off last year and for which Dolan serves as executive chairman, Dolan still saw his total compensation drop 8 percent.Father and Cablevision chairman Charles Dolan made $13.7 million, down 14 percent from $16.0 million, according to the Cablevision filing, driven largely by the lack of $2.9 million in stock options that he had benefited from in 2009. The Dolan family controls Cablevision. The compensation declines come as most other media and entertainment top executives have seen higher pay packages for 2010. Cablevision COO Tom Rutledge was the company's highest-paid Cablevision executive again with total compensation of $28.2 million in 2010, up 8 percent from $26.1 million in 2009. The filing pointed out Cablevision's solid operating performance last year. The Dolans saw higher 2010 non-equity incentive compensation, while Rutledge saw a slight decline here. But he recorded the highest stock awards, worth $13.8 million including a one-time special award, compared with $1.5 million in 2009.
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