John Malone’s Liberty Media on Thursday disclosed that president and CEO Gregory Maffei’s 2016 compensation amounted to $16.9 million, up 40 percent from $12.1 million in the previous year.
Maffei’s package included $6.9 million in stock option awards, $5 million in non-equity incentive plan compensation, $2.3 million in stock awards, $1.05 million in salary and a $928,872 bonus. He also got $335,068 due to a “change in pension value and non-qualified deferred compensation earnings” and $332,008 in “other” compensation.
The company in its explanation of the “other” compensation said “we owned an apartment in New York City, which was primarily used for business purposes,” which Maffei and other executives “occasionally used … for personal reasons.” It added: “From time to time, we also pay the cost of miscellaneous shipping and catering expenses for Mr. Maffei.”
Malone as chairman made $747,156 in 2016, compared with $912,343 in 2015, according to a regulatory filing. His salary last year amounted to $1,482, while another $232,747 was due to a “change in pension value and non-qualified deferred compensation earnings.”
The biggest part of Malone’s package came from “other” compensation worth $512,927. That included $281,515 in tax payments made on Malone’s behalf, $188,122 in personal use of corporate aircraft and $26,852 in “reimbursement for personal legal accounting and tax services.”
Liberty spinoffs Liberty Interactive, Liberty Broadband Corp. and Liberty TripAdvisor Holdings, at all of which Maffei also serves as CEO, also disclosed executive pay.
Maffei in 2016 made $13.3 million at Liberty Interactive, down from $14.9 million in 2015. Most of his 2016 pay came from a stock options award worth $8.1 million. He got no compensation from Liberty Broadband, which holds Liberty’s stake in Charter Communications, after in 2015 earning $2.3 million. At Liberty TripAdvisor, he stayed unpaid in 2015 after getting a 2014 package worth $25.1 million.
On a combined basis, that brings Maffei’s compensation from the four companies to $30.2 million in 2016, up from $27.0 million in 2015. Those figures do not include director fees for his role as a board member.
