Cable Operators

Britt's Pay Rises 6% to $17.4M in 2012

Marcus Sees 20.2% Hike in Compensation 4/04/2013 2:18 PM Eastern

Time Warner Cable chairman and CEO Glenn Britt received $17.4 million in total compensation in 2012, a 6% increase from the $16.4 million he received in the prior year, according to a proxy statement filed April 4.

Britt’s annual salary remained steady at $1.25 million, according to the proxy. And though his non-equity incentive plan compensation dipped to $6.6 million in 2012 from $7.2 million in 2011, that was more than made up in a rise in stock awards (to $3.7 million from $3.2 million) and option awards (to $5.2 million from $4.2 million).

Britt didn’t get the biggest raise among TWC top executives for the year. That honor went to chief operating officer Ron Marcus, who received a 20.2% increase in total compensation to $10.1 million from $8.4 million in the prior year. Marcus received an annual salary of $1 million (the same as in 2011), but saw a big increase in stock awards (to $3.6 million from $1.9 million) and a smaller rise in option awards (to $2.7 million from $2.5 million in the prior year).

Two top TWC executives saw slight decreases in total compensation for the year – EVP and chief financial officer Irene Esteves and EVP and chief technology officer Mike Lajoie. Esteves received 5.5 million in total compensation in 2012, down nearly 7% from the $5.9 million she received in 2011. The dip was mainly due to a decrease in stock awards from $3.5 million in 2011 to $1.3 million in 2012.

Lajoie received $2.7 million in total compensation in 2012, down almost 4% from the $2.6 million he received in the prior year.

Rounding out the top TWC executives was EVP, general counsel and secretary Marc Lawrence-Apfelbaum, who received an 18% increase in total compensation for the year to $3.3 million from $2.8 million in the prior year.

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