Viacom CEO Philippe Dauman's Pay Falls to About $36.9 Million
The company also discloses its compensation for executive chairman Sumner Redstone.
Viacom, under fire from activist shareholders who have been complaining of a dwindling stock price amid lavish executive compensation, took the unusual step Wednesday of disclosing that CEO Philippe Dauman made at least $36.9 million in fiscal 2015.
Dauman's salary and some bonuses came by way of a statement ahead of the disclosure of the conglomerate's SEC filing, so Dauman's total compensation could be a bit higher than $36.9 million, which represents a 17 percent decline over his 2014 pay.
In fiscal 2015, shares of Viacom tumbled 43 percent.
According to the statement, Dauman's salary was $4 million, he earned an equity award of $18.9 million and he collected a bonus of $14 million. A regulatory filing due later, though, will include some other items that should push his compensation north of $37 million.
Sumner Redstone, the physically ailing executive chairman and controlling shareholder, received $2 million in compensation, down 85 percent from the $13.2 million he earned a year earlier, according to the statement. Viacom said Redstone's salary was unchanged in fiscal 2015 but he became ineligible to receive a bonus beginning in the fiscal year.
Dauman is routinely near the top of the list of highest-paid CEOs in the country, even though investors haven't fared so well lately, as MTV, Nickelodeon and Comedy Central have faced ratings declines.
A year earlier, Dauman's pay rose 19 percent to $44.3 million while shares fell 8 percent.