AT&T said in a filing with the Securities and Exchange Commission that company CEO Randall Stephenson received a compensation package worth about $15 million, a decline of about $3 million from the previous year. Stephenson recently had said he would not be paid a bonus for 2008, as the company prepared to cut jobs and tighten its belt for an uncertain 2009.
However, Stephenson did get a raise of 22 percent in salary last year to about $1.4 million. The largest single aspect of his compensation were options and stock incentives worth about $13.2 million. Also included in the total payout: $142,000 in relocation expenses, $83,000 for personal use of AT&T's corporate jet, and $14,000 in financial counseling (Ouch, I need to hook him up with my guy--much cheaper).
AT&T also said its total executive-level compensation was down 44 percent between 2007 and 2008.
Executive bonuses have had a bulls-eye on them in recent weeks, and Stephenson was among the first to forego his bonus for 2008. How do you feel about the rest of this package? Was it earned, relatively-speaking? Post a comment below and let us know.
- BusinessWeek has this Associated Press report
Stephenson accepted an $18 million package in 2007
Stephenson said this month he would skip his 2008 bonus