In a year when its stock rose 42.5%, CBS chief executive Leslie Moonves reaped the benefits of his efforts, raking in $69.9 million in total compensation in 2011, most of that in bonuses and option awards, according to documents filed with the Securities and Exchange Commission Friday.
Moonves received a base salary of $3.5 million for the year (comparable to the prior year), a $27.5 million bonus (equal to what he received in 2010), $8.5 million in stock awards (up 6.4% from 2010) and $27.3 million in option awards, an 83% increase from the $14.3 million he received in the prior year.
Moonves take was up 21% from the $57.7 million in compensation he received in 2010.
CBS , a pioneer in extracting retransmission consent cash from distributors for its broadcast network and owner of cable channels Showtime and CBS Sports, saw its stock rise 42.5% ($8.09 each) in 2011 from $19.05 to $27.14. So far this year, CBS shares are up 19.8% ($5.37 each) to $32.51 on April 13.
CBS chairman Sumner Redstone received $20.3 million in total compensation in 2011, even with his total compensation in the prior year. Redstone, who also serves as chairman of Viacom (Viacom split into two separate entities in 2005), received $20.99 million in total compensation for that role in fiscal 2011, a 39.7% increase.
Other CBS executive also received boosts in pay. Chief financial officer Joseph Ianiello received $11.9 million in total compensation in 2011, a 10.2% hike from the prior year; executive vice president and general counsel Louis Briskman received $10.6 million in total compensation, a 27.7% increase and executive vice president, human resources and administration Anthony Ambrosio received $3.9 million in total compensation, a 1.3% increase from 2010.