Sirius XM Radio CEO Mel Karmazin Earned $11 Million in 2012
The bulk of his compensation was from a $9.5 million cash bonus that was based in part on increases in subscribers.
Mel Karmazin earned $11 million in 2012, his last year as CEO of Sirius XM Radio, up from $10.7 million the previous year.
Karmazin, who relinquished his role in December as Liberty Media was taking control of it through stock purchases, earned the bulk of his compensation via a $9.5 million cash bonus that was based in part on increases in subscribers, up 2 million in 2012 to 23.9 million, and a 71 percent increase in free cash flow to $709 million.
Current CEO James Meyer earned $3.3 million in 2012, up from $3.1 million, the company said in a regulatory filing Wednesday.
Chief content officer Scott Greenstein made $2.4 million, up from $2.3 million, and CFO David Frear was paid $2.1 million, down from the $20.8 million he made a year earlier when he was awarded $18.9 million in stock options.