Liberty Media Corp. chairman John Malone’s compensation package jumped 80 percent to $6 million in 2007 as his diversified media company worked to streamline its holdings and acquire a stake in satellite TV provider DirecTV.
The company also rewarded chief executive Greg Maffei with a compensation package totaling $19.2 million, more than triple his 2006 package. The bulk of the increase came in stock and stock options the company valued at $15.1 million.
Malone, who controls Liberty Media, also was awarded most of his compensation in stock and stock options the company valued at $4.6 million.
His salary was just $2,600 while other compensation totaled $1.2 million, which included $227,137 for use of a company jet, $745,832 in tax payments made on his behalf, and reimbursements for personal estate planning and legal advice. He also got $214,323 in above-market returns on deferred compensation.
In 2006, Malone received total compensation worth $3.4 million, including $1.9 million in stock and options, $2,600 in salary, a $625,000 bonus and $666,724 in other compensation for tax and estate planning, legal advice, tax payments and use of the corporate jet.
Maffei’s 2007 package also included $1 million in salary, $2.7 million in compensation under a non-equity incentive plan, $214,323 in above-market returns on deferred compensation and $463,062 in other compensation representing use of aircraft, insurance and retirement.
Liberty Media: What they made at the top
Greg Maffei, chief executive
2007 total: $19.2 million, up from $5.7 million in 2006
Stock and options: $15.1 million
Salary: $1 million
John Malone, chairman
2007 total: $6 million, up from $3.4 million in 2006
Stock and options: $4.6 million
Salary: $2,600
