DirecTV awards CEO White pay valued at $33 million

AP News
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Posted: Feb 25, 2011 6:23 PM
DirecTV awards CEO White pay valued at $33 million

Michael White, who just completed his first year as CEO of DirecTV, received a pay package valued at $32.7 million in 2010.

That's according to an Associated Press review of data filed with regulators.

Most of the pay came in the form of stock and option awards worth $27.2 million when they were granted. However, the El Segundo, Calif.-based satellite TV company said White won't receive additional awards during the rest of his three-year contract.

Last year, DirecTV Group Inc. increased revenue, profits and subscribers and extended its position as the world's largest pay TV provider with 19.2 million subscribers in the U.S. and 8.9 million in Latin America.

The AP calculation aims to isolate the value that company boards place on CEOs' total compensation packages. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.