Comcast Chairman Brian Roberts’ Pay Rises 10.6% to $35.4 Million for 2023

Comcast chairman Brian Roberts received $35.4 million in total compensation for 2023, up 10.6% from his $32.06 million in 2022.

The pay package included a $2.5 million base salary, $15.02 million in stock awards, $9.2 million in option awards, $8.55 million in non-equity incentive plan compensation and $199,049 in “other” compensation, including $189,049 for personal use of the company-provided aircraft and $10,000 in company contributions to his retirement investment plan.

Comcast’s median employee received $89,104 in 2023. The ratio of Roberts’ compensation compared to the median employee was 1,184 to 1.

Meanwhile, Comcast president Mike Cavanagh, who took over the role in October 2022 after serving as chief financial officer, received total compensation of $29.58 million.

The package included a $2.46 million base salary, $11.4 million in stock awards, $7 million in option awards, $8.4 million in non-equity incentive plan compensation and $258,030 in “other” compensation, including $248,030 for personal use of the company-provided aircraft and $10,000 in company contributions to his retirement investment plan.

That marked a 26.9% decrease from the $40.48 million he received in 2022, primarily due to a decrease in the amount of option awards.

The pay disclosure, which was included in Comcast’s proxy filing released Friday, comes after the company had a record year in 2023.

“We delivered some of our best financial results in history, returned
$16 billion of capital to shareholders and raised our dividend for the 16th consecutive time,” Roberts wrote. “Our strong performance was fueled by meaningful investments and execution across our six key growth areas – residential broadband, mobile, business services, theme parks, studios and streaming.”

Roberts touted the company’s film business being No. 1 in the worldwide box office for the year, buoyed by the Oscar-winning “Oppenheimer,” Peacock being “the fastest growing streaming service in America,” increasing paid subscribers by nearly 50% to 31 million at the end of 2023, and its theme parks achieving record-high revenue and adjusted EBITDA.

The filing also comes a day after Comcast beat expectations for its first quarter earnings for 2024.

“We enter 2024 with momentum and confidence in our long-term strategy to drive innovation, growth and shareholder value,” Roberts added. “We remain
committed to delivering world-class connectivity, content and experiences to millions worldwide, while also leveraging our unique resources to make a positive impact on our communities and the planet.”

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