Clayton, Other Dish Execs See Compensation Plunge in 2012

Lack of Stock, Option Awards Drives Down Exec Pay
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Dish Network CEO Joe Clayton’s total compensation dropped by nearly $9 million in 2012, as two other top executives at the satellite giant saw big dips in their pay for the year.

Clayton, who joined Dish in June 2011 as CEO, earned $907,000 in 2012, down from the $9.8 million he received in 2011. According to a proxy statement filed late Friday, Clayton’s annual salary nearly doubled to $900,000 from $467,000 in 2011 (when he only served half the year), but he received no bonus, stock options or awards. In 2011, the bulk of the CEO’s compensation came in the form of stock and option awards -- $306,700 and $9.1 million respectively.

That lack of options also helped drive down total compensation for two other top Dish executives – executive vice president and chief operating officer Bernard Han and EVP of corporate development Thomas Cullen.

Han received $480,500 in total compensation in 2012, down more than 200% from the $1.5 million he received in 2012.  Stock options and awards again were the difference – Han received almost $1 million in option awards in 2011, none in 2012.

The same held true for Cullen, who saw his total compensation decline more than 225% to $456,617 from $1.5 million in 2011. Cullen received more than $1 million in stock awards and options in 2011 and none in 2012.

Chairman Charlie Ergen got the biggest raise – pocketing $1.3 million in total compensation in 2012, up 35% from the $958,441 he received in the prior year. Ergen received no stock or option awards, but he did get a 20% bump in salary to $900,000 from $750,000 and received about $400,000 in other compensation, about twice the $208,000 he received in the prior year.

Dish EVP and chief financial officer Robert Olson also got a small raise – 1.1% -- receiving $355,501 in total compensation, up from the $351,654 he received in 2011.