CEO pay

This article from last year but still relevant. You don’t see the execs making any sacrifices for the gross negligence they’ve practiced over the years , do ya ?

5/19/2022

John Stankey, AT&T CEO, received total compensation of $24,820,879, representing an 18 percent increase from the prior year. It includes a larger than average salary and a cash bonus that more than doubled from the prior year.

Also notable is the pay given to ex-CEO Randall Stephenson who left that position on January 19, 2021 but still had compensation of $16,345,499. That sum includes the post-employment consulting agreement of $1,000,000 and a required statement of estimated value for the fact that “the Committee lifted the automatic proration on Mr. Stephenson’s 2019 and 2020 Performance Share awards.” The company notes that, “While the grant date value of these PSAs was previously reported in the summary compensation table for FY19 and FY20, the value of such awards at the time the proration was lifted ($12,003,886) is required to be disclosed in this year’s proxy statement.”

The largest number regarding compensation though is not in the summary compensation table on pension benefits. This chart appears in every proxy and there are two columns. One shows “present value of accumulated benefit” and one shows “payments during last fiscal year.” Typically, executives leave companies before there are any payments, but because Stephenson remains a consultant we know exactly how much AT&T paid him from his various retirement vehicles last year: an astonishing $67,743,037.

At the end of 2022, the company will finally freeze the SERP (Supplemental Employee Retirement Benefit) and many of the more generous aspects are not available to officers appointed after 2008. Stankey has a total retirement package worth over $36 million.

This is one of many excesses in pay at AT&T. Last year 51.1 percent of shareholders voted against the executive compensation package at AT&T.

The company made several small changes, for example adding EPS growth as a metric to the FY22 PSAs, weighted equally with ROIC, which the company said it took, “to increase NEO pay alignment with shareholders' interests while maintaining a focus on capital allocation.” None addressed the larger issues.

https://www.asyousow.org/our-work/ceo-pay/blog/2022/5/13/atampt-paid-67743037-to-former-ceo-this-year-but-you-wont-find-that-in-summary-compensation-table?format=amp

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16 replies (most recent on top)

Yes but he donated $100 to Maui fire victims.

That inept, mendacious, egomaniacal sociopath isn’t worth a plug nickel…much less millions. It’s the epitome of “ill gotten gains”!

If he left the business today no one would notice.

9 hours ago by Anonymous | 13 reactions (+13/-0)
Post ID: @vsn+1otfX6DS

It would take weeks, no wait, months before the company would detect his vacancy. That is how valuable Stankey is.

Your going to compare yourself to CEO pay? Are you a communist?

No. We would only ask that our CEO compensation be tied to health of the company. AT&T is not a financially healthy company.

Your going to compare yourself to CEO pay? Are you a communist?

Beyond the board who else enables this?

absolutely wrong / criminal that Stankey and Randall get paid those huge sums of money for making some of the worst decisions in the history of business....ironically the result of those bad decisions is that they get paid millions and much of the remaining workforce gets laid off....or live for years under the threat of layoffs due to colossal mismanagement.

If Stankey had an ounce of integrity, he would step down, acknowledging that despite his best efforts, the results were a failure.

Sad what has happened to a once great company that is now so saddled with debt it can't compete well in its markets.

Not bad, a half million a month. Way overpaid, no question about it. Stankey and Stephenson couldn't run a sidewalk lemonade stand. What a couple of overpaid losers.

It's becoming increasingly clear that the current pay model to pay executives is unsustainable and will soon be replaced with a more equitable one. Take the example of the college football pay method - while the NCAA and School Board members were initially against players getting paid, that stance has since changed, and now players are receiving compensation. Similarly, companies in the future will need to shift from paying executives who take credit for others' work, to paying the performers who actually contribute to the company's growth and success.

If he left the business today no one would notice.

Must be nice. 18% increase vs prior year. Personally I made LESS last year than the year before per YTR. Exceeds ratings and only getting 3% raises. Comp is really falling behind for those of us that have been here a while. Time to jump some place else to get the pay bump that I should be getting.

Do as I say, not as I do.
Rules for thee and not for me.

This will continue until the sheep mentality of Americans ends. We are allowing this to happen, because we refuse to give up our cushy lives and break our plowshares into swords.

The Stink needs all that $ for silk pajamas. The $ the Stink spends on therapy is not helping the megalomaniac as well as his beautification for polishing his chrome fome.

Outrageous, to say the least

When you’re paid that much your interests become self centered since you control all of those on the BOD that determine your compensation. Regardless of performance Stankey’ and Stephenson will take out $200 million a piece!!

The higher up you are in business or government, the less tethered to reality you are. As long as you say all the correct things, you can be corrupt and/or inept and still be handsomely rewarded.

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CEO pay

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