trending Market Intelligence /marketintelligence/en/news-insights/trending/0rbNZglY6dBO2b4Ciu6_wQ2 content esgSubNav
In This List

Former Viacom CEO Philippe Dauman made $93M in fiscal 2016

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

TMT Digital Newsletter: May 2021

Blog

Fintech Intelligence Digital Newsletter: May 2021


Former Viacom CEO Philippe Dauman made $93M in fiscal 2016

Former Viacom Inc. CEO Philippe Dauman received about $93.0 million in fiscal 2016 total compensation, including $3.6 million in salary, $13.8 million in stock awards, $7.5 million in option awards and $9.7 million in nonequity incentive plan compensation, according to a Dec. 16 SEC filing.

Thomas Dooley, the company's former interim president and CEO, pulled in roughly $27.9 million in fiscal 2016, including $3.0 million in salary, $6.0 million in option awards and $10.0 million in stock awards.

Bob Bakish was recently appointed president, CEO and director of Viacom. The former president and CEO of Viacom International Media Networks rose to lead the parent company after Dooley stepped down as interim president and CEO following the ouster of longtime Viacom CEO Philippe Dauman earlier this year. Dauman exited the company after a bitter legal battle with Viacom Chairman Emeritus Sumner Redstone and Vice Chair Shari Redstone, his daughter, over control and management of the company.

Meanwhile, CFO Wade Davis saw his fiscal 2016 pay package decrease to $5.4 million from $6.0 million the year before. Davis' 2016 compensation included $1.8 million in salary, $2.2 million in stock awards and option awards and $1.4 million in nonequity incentive plan compensation.

The company's General Counsel and Secretary, Michael Fricklas, earned roughly $5.9 million in fiscal 2016, down from $6.4 million in the prior year. Scott Mills, Viacom's chief administrative officer, took home about $5.4 million in fiscal 2016, down from $6.0 million in fiscal 2015.

In other compensation news:

Media

* Priceline Group Inc.'s recently named CEO Glenn Fogel will receive an initial annual base salary of $750,000, with a target annual bonus equaling 250% of his base salary. He will also get a grant of restricted stock units on March 4, 2017, for a number of shares with a grant date fair value at target of $7.0 million, along with a grant of performance share units on March 4, 2017, for a number of shares with a grant date fair value at target of $14.0 million, the company said Dec. 16. Fogel, who joined the company 16 years ago, most recently served as the company's head of strategy and planning, as well as executive vice president of corporate development.

Communications

* Towerstream Corp.'s compensation committee on Dec. 20 authorized the award of options to its nonexecutive employees in varying amounts for the purchase of up to a total of 1,055,500 common shares at an exercise price of 24 cents per share for a period of 10 years. The options will vest 50% on the date of issuance and 12.5% over the next four quarterly anniversary dates, the company said in a Dec. 22 SEC filing. Further, the company also adjusted monthly cash compensation for its independent directors to $5,000 per month, effective Dec. 1, along with authorizing a one-time cash award of $25,000 to independent director William Bush as compensation for Bush's work in implementing Towerstream's restructuring plans. The compensation committee also authorized the creation of a compensation pool for board members, senior management and key employees in case of a sale of the company or substantially all of its assets for gross proceeds equal to or exceeding $50 million.

* IDT Corp. approved a restated and amended employment agreement with Howard Jonas, the chairman of the board. As per the agreement, Jonas will receive an annual base salary of $250,000 from Jan. 1, 2017, to Dec. 31, 2019, and a restricted stock grant with an aggregate value of $1.35 million, the company said Dec. 20. The aggregate number of shares granted will equal 69,624, based on the closing price of the company's class B common stock on Dec. 13.

* Ralph de la Vega is set to retire as vice chairman of AT&T Inc., effective Dec. 31. In connection with his retirement, de la Vega and AT&T Inc. entered in to an agreement, pursuant to which de la Vega agreed to not compete with the company or solicit the company's employees, customers or vendors for 24 months and to maintain the confidentiality of the company's trade secrets and other confidential information and to other terms customary for such agreements, and the human resources committee of the board approved the removal of the automatic proration at retirement for de la Vega's outstanding grants of performance shares and waived the repayment of relocation benefits by Mr. de la Vega that were paid in connection with his Feb. 1 job relocation, according to an SEC filing.