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Charter Communications chairman and CEO Thomas Rutledge received compensation worth $8.15 million in 2018, just up from $7.8 million in 2017, but down considerably from his $98.5 million take for 2016, according to a regulatory filing.
An SEC filing issued Thursday by Charter, in which John Malone’s Liberty Broadband owns a big stake, indicated Rutledge’s base salary remained unchanged at $2 million, while his non-equity incentive plan and “other compensation” rose slightly last year.
His 2016 compensation was due to nearly $80 million in option awards and just over $10 million in stock awards after the company closed the acquisitions of Time Warner Cable and Bright House to become the second-largest U.S. cable operator behind Comcast.
Rutledge did not collect any stock awards or option awards during the last two years.
Charter president and COO John Bickham earned $4.72 million last year, down from $4.88 million in 2017 and $47.4 million in 2016 when he, like Rutledge, scored a large amount of option awards.
Senior executive vp David Ellen saw his compensation edge up to $3.24 million in 2018, against $3.1 million a year earlier and $22.1 million in 2016, while CFO Christopher Winfrey saw his compensation rise to $2.13 million last year, against a year-earlier $2.07 million and $29.2 million in 2016.
Cord-cutting due to cheaper streaming video services from the likes of Netflix and Amazon has led to lower video subscriber counts for many pay TV companies, while cable giants like Charter add to their internet customer counts.
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