DENVER—Compensation for the head of international cable operator Liberty Global Inc. swelled to $57.41 million last year, the bulk of which came in stock and stock options, according to a regulatory filing submitted Tuesday.
Michael T. Fries, who is chief executive and president, received stock and stock options the company valued at $54.9 million; $920,000 in salary, $1.6 million under a non-equity compensation plan and $17,279 in compensation for retirement and life insurance benefits.
In 2006, Fries’ compensation package totaled $4.25 million, including $900,346 in salary; $1.6 million under a non-equity compensation program; $16,743 for retirement and life insurance benefits; and stock and stock options the company valued at $1.74 million.
The company, which is controlled by cable magnate John Malone, weighted its executive compensation to performance and incentive awards, according to the Securities and Exchange Commission filing.
The boost in Fries’ compensation package came as Liberty Global worked to roll out digital television services in its overseas markets. Revenue in the past year rose 38 percent to $9 billion.
As of Dec. 31, Liberty Global reported 14.7 million video subscribers, primarily analog service customers.
Associated Press calculations of total pay include executives’ salary, bonus, incentives, perks, above-market returns on deferred compensation, and the estimated value of stock options and awards granted during the year.
The calculations don’t include changes in the present value of pension benefits, and they often differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.
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