Comcast Compensation For CEO Brian Roberts Took a Hit in 2024

Comcast Chairman and CEO Brian Roberts saw his total compensation decrease by approximately 4.5% to $33.9 million, down from $35.5 million in 2023, according to Comcast’s proxy statement filed with the SEC on Friday. 

Brian Roberts

The 2024 pay package included a base salary of $2.5 million, stock awards valued at $17.9 million, option awards worth $5.75 million, a $7.5 million cash bonus, and $200,483 in other compensation, primarily $190,483 for personal use of company-provided aircraft. The reduction aligns with a 14% drop in Comcast’s stock price in 2024, despite the company reporting increased revenue, earnings, and adjusted net income, though free cash flow declined by 3%.

 
Comcast praised Roberts for providing “invaluable long-term vision and stability” amid competitive challenges, as noted in the proxy statement. 

The filing also disclosed that Comcast President Michael Cavanagh’s compensation similarly dipped by 4.5% to $28.3 million. Meanwhile, other executives like CFO Jason Armstrong saw a 30% pay increase to $15.1 million. The compensation adjustments come as Comcast prepares to spin off its cable network portfolio, including MSNBC, into a new entity called SpinCo by the end of 2025, a move aimed at focusing on growth areas like streaming and theme parks.