Dish Network's Charlie Ergen 2017 Pay Rises to $2.4 Million
Erik Carlson, who was promoted from president and COO to CEO in December, made $1.5 million.
Charlie Ergen, the billionaire chairman and former CEO of Dish Network, was awarded $2.4 million for running the satellite TV service in 2017, up 41 percent, according to a regulatory filing Wednesday.
The drivers were stock option and stock awards of $654,033 and $6,389, respectively, compared with none in 2016, and an increase in "other compensation" to $786,021 from $656,833. Ergen's salary remained unchanged at $1 million.
Ergen stepped down in December from his role as CEO of the company he co-founded, replaced by Erik Carlson, who was promoted from president and COO. Carlson’s compensation for 2017 was $1.5 million, down 61 percent from $3.8 million in 2016 when he had received a much bigger stock options awards.
Ergen’s compensation is typically much lower than that of his counterparts in the entertainment industry. In 2016, for example, he had earned $1.7 million, which was up from $1.3 million the year prior. Each of those years he was CEO as well as chairman.
In 2017, shares of Dish lost 18 percent as the service shed more than 400,000 subscribers, closing the year with 11 million Dish TV subscribers and an additional 2.2 million who subscribe to its skinny bundle Sling TV service.