Charter Communications CEO Tom Rutledge raked in $16.1 million in total compensation in 2014, a more than three-fold increase from the $4.5 million he earned in the previous year, according to a proxy statement filed with the Securities and Exchange Commission.
According to the proxy, Rutledge received the same salary in 2014 -- $1.99 million – but received $8.9 million in option awards – compared to none in 2013. His non-equity incentive compensation rose 72% in the period to $3.8 million from $2.2 million in the prior year.
Under Rutledge’s leadership, Charter stock rose 22% in 2014 to $166.62, and has reported strong operational results (revenue and cash flow increased by double digits in the fourth quarter and it added 3,000 basic video subscribers). In addition, Charter is set to gain about 3.9 million customers through a series of sales, swaps and spins with the combined Comcast-Time Warner Cable that would take effect once that larger deal is completed. The stock is up about 14% ($22.70 each) so far this year, closing at $189.32 on March 18.
Other Charter executives who saw compensation increases included chief financial officer Christopher Winfrey ($3.6 million, up from $848,122 in 2013), chief operating officer John Bickham ($8.6 million, up from $2.8 million in 2013) and executive vice president and president of commercial services Dom Detampel ($3.6 million, up from $913,707 in 2013).