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The Pay Check

TMT News & Research: 2020 Recap

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Charter, DIRECTV and Comcast rank as the top 'RSN-friendly' MVPDs

Quibi's $2 billion bet on mobile video fizzles out

Cable nets struggle with cash flow declines due to cord cutting, pandemic


The Pay Check

*Quotient TechnologyInc.'s newly named CFO Ronald Fior will be entitled to an annual basesalary of $370,000, and will be eligible for an annual, discretionary bonus ofup to 50% of his base salary. Fior will be granted restricted stock units tobuy 85,000 shares of the company's common stock pursuant to the company's 2013equity incentive plan, according to an Aug. 2 SEC . The CFO will also be granted anoption to purchase 185,000 common shares pursuant to the 2013 plan and an awardagreement with an exercise price equal to the fair market value of the commonStock on the date of grant.

*Christian Wymbs AMC NetworksInc.'s newly appointed executive vice president and chief accountingofficer, will receive a minimum annual base salary of $425,000 and an annualtarget bonus opportunity equal to 50% of his base salary. AMC expects Wymbs'participation in the company's long-term equity and other incentive programswill consist of annual grants of cash and/or equity awards with a target valueof not less than $480,000, according to an Aug. 1 Form 8-K . The executive will also beeligible to receive a one-time award of restricted stock units with a targetvalue of $500,000 in October, and a one-time lump sum cash bonus equal to $250,000in March 2017. Wymbs takes over the responsibilities of chief accountingofficer from CFO Sean Sullivan, who assumed these responsibilities after thedeparture of JohnGiraldo.

*Stephen Burke will continue to serve as senior executive vice president ofComcast Corp. andpresident and CEO of NBCUniversalMedia LLC until Aug. 31, 2020. Pursuant to an amended employmentagreement, Burke will receive a stock option with a grant date fair value of$10 million, which will vest fully on Aug. 14, 2023. Burke has agreed not tosell any net after-tax shares received upon exercise before the secondanniversary of the exercise date, according to a July 28 SEC . Additionally, theamendment continues the structure under Burke's current employment agreement ofcrediting contributions to his deferred compensation plan account, with $4.1million being credited in 2017 and annual contributions increasing by 5% eachyear thereafter through 2020. Burke has been serving as NBCUniversal's CEO and a senior executive ofComcast sinceJanuary 2011. He served as COO of Comcast from 2004 until 2011, and presidentof Comcast Cable Communications LLC from 1998 to January 2010.

*Professional Diversity NetworkInc. Chairman and CEO James Kirsch pulled in $436,942 in 2015 totalcompensation, up from $315,754 the year before, according to a July 27 proxyfiling. The CEOreceived a $100,000 bonus and $327,438 salary in 2015. Meanwhile, President andChief Development Officer Star Jones saw her 2015 pay package drop to $324,895from about $5.5 million in 2014, mainly due to a difference in stock awards.Jones, who was paid roughly $5.4 million worth of stock awards in 2014, did notget any awards in 2015. CFO David Mecklenburger took home $301,875 in 2015.Matthew Proman, who steppeddown as COO of the company in July 2015, was paid $375,115 thatyear.

*Norman Pearlstine, who recently stepped down as Time Inc.'s chief content officer and now serve in thenonexecutive role of vice chairman of the company, will receive an annualsalary of $250,000 pursuant to an amended employment agreement with thecompany. Pearlstine will no longer be eligible to participate in the company'sannual incentive plan or receive equity compensation awards. Pearlstine,however, will be entitled to receive a pro-rated bonus under the company's 2016annual incentive plan based on the period prior to July 18, determined using atarget bonus of $927,000, a strategic rating of 100%, and the company'sachievement on its financial goals, the company said in a July 25 .

*Lawrence Wert will remain with Tribune Media Co. as president of local broadcastinguntil Dec. 31, 2018. Pursuant to a new employment agreement, Wert will get a basesalary of $850,000, with an opportunity to earn an annual cash bonus with atarget of $1 million, the company said in a July 22 SEC filing. Except that for 2016, thetarget bonus is $925,000. Wert is also entitled to an annual long-termincentive grant with a fair market value of $850,000. The company will alsogive Wert a supplemental sign-on grant of 100,000 options with an exerciseprice of $44.00 per share.