The board of directors at AMC Networks have unveiled the 2022 compensation packages paid out to its leadership team after surprise executive suite turmoil at the company that operates such cable networks as AMC, IFC and Sundance TV.
Former CEO, COO and CFO Christina Spade received a total pay package of $21.3 million last year, AMC Networks revealed in an SEC filing issued on Friday. Spade was promoted to CEO from Sept. 9, 2022, only to abruptly step down from the job on Nov. 28, 2022.
Spade, whose pay topped $7 million in 2021, last year received a salary of $1.24 million and no bonus, while also taking home $7.4 million in stock awards, $2.1 million in non-equity incentive plan compensation and $10.5 million in “all other” compensation.
Related Stories
Spade’s latest employment agreement was set to run through the end of 2025 and stipulated she was eligible to receive a severance payment of more than $10 million, in addition to benefits associated with restricted stock and other awards.
Former interim CEO Matthew Blank, who gave way to Spade in the top post last September, received a total pay package of $4.87 million last year, down from $6.96 million in pay for 2021.
Josh Sapan, another former CEO, as well as former president and executive vice chairman, earned $15.06 million in 2022, just down from compensation of $15.2 million in 2021. Blank, a former Showtime Networks CEO, replaced longtime boss Sapan as an earlier CEO.
Sapan then shifted to an executive vice chairman role after a 26-year run with the company, with that term ending on Dec. 31, 2022.
Elsewhere in the SEC filing, Patrick O’Connell, previously a senior executive at CBS Corp. and Goldman Sachs who became executive vp and CFO at AMC Networks from August 2, 2022, earned a total compensation package of $1.7 million last year.
