DENVER-
The chief executive officer of Europe’s largest cable operator Liberty Global Inc. received compensation worth $4.25 million in 2006, according to a regulatory filing Monday.
The company’s chairman is cable pioneer John Malone.
CEO Michael Fries’ compensaton included a salary of $900,346, plus $1.6 million as a reward for maintaining operating cash flow, exceeding public financial targets and helping the company’s stock price improve, according to a filing with the Securities and Exchange Commission.
He also received other compensation of $16,743, which included a life insurance premium and a $15,000 contribution to his 401k.
He received stock and option awards valued at $1.7 million the day they were granted, the filing said.
The Associated Press calculations of total pay by Liberty Global included Fries’ salary, bonus, incentives and the estimated value of stock options and awards granted during the year.
