AT&T CEO John Stankeys Pay Rises to $24.8M in 2021
AT&T CEO John Stankey made $24.8 million in 2021, compared with $21 million in 2020 and $22.5 million in 2019, according to the company’s filing with the Securities and Exchange Commission unveiled on Tuesday.
Stankey received a base salary of $2.4 million last year, compared to $2.05 million in 2020. His stock awards in 2021 were virtually unchanged at $13.42 million. And he received a rise in his non-equity incentive plan compensation to $6.88 million last year, compared to $3.25 million received in the same category in 2020.
The telecom giant did not disclose the 2021 overall pay package for WarnerMedia CEO Jason Kilar, who earned $52.2 million in 2020, the year he was appointed to the role. In 2020, Kilar’s compensation included $49.2 million in stock awards.
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The AT&T compensation disclosures come ahead of the planned merger of AT&T’s entertainment arm WarnerMedia and Discovery, which is expected to close during the second quarter. The megadeal will create the merged Warner Bros. Discovery, which will be led by Discovery CEO David Zaslav as CEO and his finance chief Gunnar Wiedenfels as CFO.
Zaslav and his team have said that the enlarged media and entertainment giant wants to take on such streaming giants as Netflix and the Walt Disney Co., but avoid overspending on streaming to focus on longer-term, sustainable profitability.
Also at AT&T, CFO Pascal Desroches received $11.7 million overall compensation in 2021, his first year in the top financial chief post. And Randall Stephenson, executive chairman of the telecom giant and now retired, received a total payout of $16.3 million in 2021, against $29.1 million received in 2020.
AT&T’s stock fell 15 percent in 2021, but its financials improved. Excluding the impact of big asset deals, AT&T’s total 2021 revenue rose to $153.2 billion from $144.6 billion. The company swung to full-year net income of $19.9 billion, or $2.76 per share, from a 2020 loss of $5.4 billion, or 75 cents a share. When including adjustments for both years, earnings per share rose to $3.40 from $3.18.
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