That included the exec’s base salary of $2.9 million, stock awards of $9.5 million, $7.6 million in non-equity incentive plan compensation, $2.1 million in the change in pension value and non-qualified deferred compensation, and $367,000 in other compensation (including $223,991 in life-insurance premiums).
AT&T chairman and CEO Randall Stephenson’s pay package last year was $32 million, up 10% from $29.1 million in 2018, the company disclosed in a proxy filing Wednesday. According to AT&T, the company’s median employee compensation last year was $98,630, meaning Stephenson’s pay package is 325 times that of the average worker. (In 2018, the average S&P 500 CEO made 287 times what their company’s median employee received, per an AFL-CIO analysis.)
Stankey, 57, is responsible for AT&T Communications, WarnerMedia and Xandr, the telco’s ad unit. He is overseeing the company’s launch of HBO Max, slated for May 2020, which will be available to over 10 million HBO subscribers on AT&T distribution platforms out of the gate.
In the filing, AT&T said regarding the determination of Stankey’s pay package, “Due to the unique pay practices in the media and entertainment industry, the consultant [Frederic W. Cook & Co.] created a separate Media Peer Group, comprised of key organizations in the media and entertainment industry, against which to evaluate Mr. Stankey’s compensation.” That comprised Comcast, Amazon, CBS, AMC Networks, Discovery, Lionsgate and Netflix.
Stankey, who has worked at the telco for more than three decades, in 2018 was named CEO of WarnerMedia following AT&T’s takeover of Time Warner. In October 2019, he was named president and COO of AT&T overseeing AT&T Communications, WarnerMedia, and Xandr, prompting speculation that he was in line to succeed Stephenson. The company has said Stephenson will remain AT&T’s CEO at least through the end of 2020.