AT&T (NYSE:T) CEO Randall Stephenson received a total compensation package of $22.2 million in 2012, recovering from the hit he took in 2011 as a result of the company's failed attempt to acquire T-Mobile USA, according to a regulatory filing.
According to a filing with the Securities and Exchange Commission, Stephenson saw his 2012 compensation rise slightly from the $22 million he received in 2011. Overall in 2011, Stephenson's total compensation fell by 19 percent from $27.3 million in 2010. AT&T's board cut Stephenson's bonus pay by $2.1 million last year in the wake of the collapse of the T-Mobile deal.
Stephenson admitted that his company didn't execute well on its proposed $39 billion deal to purchase T-Mobile USA when it made a bid for the operator in 2010. "I wouldn't say it was a bad decision, but it was a decision that didn't go the way I wanted," Stephenson said in February at the Silicon Flatirons Center's Digital Broadband Migration conference. "We didn't execute well." The company ended up dropping its T-Mobile bid in late 2011 amid regulatory opposition.
In 2012, Stephenson took home a base salary of $1.55 million (unchanged from 2011), stock awards of around $12.59 million, a bonus of $6.06 million, pay from deferred compensation and pension changes of $1.23 million and "other compensation" of around $803,000, which included home security of $101,923.
In 2012 AT&T added 1.4 million net postpaid subscribers, and the carrier saw its total wireless operating revenues climb 5.7 percent to $17.6 billion.
AT&T also disclosed the compensation for AT&T Mobility CEO Ralph de la Vega, who had a total compensation package of $11.92 million, including a base salary of $872,500, stock awards of $4.4 million, a bonus of $1.97 million, pay from deferred compensation and pension changes of $4.48 million and other compensation of around $172,000. In 2011 De la Vega had a compensation package of $9.89 million, which was down 9 percent from 2010.
- see this SEC filing
- see this Dow Jones Newswires article
- see this AP article
AT&T's Stephenson: We didn't execute well on T-Mobile deal
AT&T's Stephenson indicates interest in handset financing
AT&T adds 780,000 postpaid subs in Q4, sells record 10.2M smartphones
AT&T will go live with Digital Life home automation service in March
AT&T sold a record 10M smartphones in Q4