Comcast chairman and CEO Brian Roberts received a $33.9 million pay package in 2024, a 4.5% drop from $35.5 million in 2023.
The package included a $2.5 million base salary, $17.9 million in stock awards, $5.75 million in option awards, $7.5 million in non-equity incentive plan compensation and $200,483 in “other” compensation, including $10,000 in company contributions to retirement investment plan accounts and $190,483 for Roberts’ personal use of a company-provided aircraft.
The annual total compensation of Comcast’s median employee in 2024 was $89,237, or a CEO pay ratio for Roberts of 380 to 1.
Comcast president Mike Cavanagh saw his pay fall 4.5% to $28.3 million, compared to $29.6 million in 2023.
His 2024 package included a $2.5 million base salary, $13.63 million in stock awards, $4.38 million in option awards, $7.5 million in non-equity incentive plan compensation and $255,162 in “other” compensation, including $10,000 in company contributions to retirement investment plan accounts and $245,162 for Cavanagh’s personal use of a company-provided aircraft.
Meanwhile, chief financial officer Jason Armstrong’s 2024 pay climbed 30% to $15.1 million compared to $11.6 million in 2023.
His package included a base salary of $1996,154, $6.62 million in stock awards, $2.13 million in option awards,$4.4 million in non-equity incentive plan compensation and $10,000 in “other” compensation, which comprised of company contributions to retirement investment plan accounts.
The executive pay disclosures come a day after the media conglomerate beat Wall Street expectations for its first quarter of 2025, but saw revenue and profits tumble on continued broadband and pay TV subscriber losses and declines in domestic advertising, theatrical and theme park revenues.
Looking ahead, the company plans to spin off its cable network portfolio into a standalone, publicly traded entity by the end of the year in a move that will be tax-free to Comcast shareholders. The entity, currently dubbed SpinCo, will house USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel as well as digital assets Fandango, Rotten Tomatoes, GolfNow and SportsEngine, reaching 70 million U.S. households and generating $7 billion in annual revenue
Comcast stock is down 11.3% in the past year and 10% year to date and 19% in the past six months.
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