Legere's T-Mobile contract extended to 2017, salary raised to $1.5M

john legereIn a new filing with the Securities and Exchange Commission, T-Mobile US (NYSE:TMUS) said it inked a new employment agreement with CEO John Legere that extends the original term of Legere's employment from Sept. 22, 2015, to Sept. 22, 2017, and increases Legere's annual base salary to $1.5 million. The filing also notes that T-Mobile increased Legere's minimum annual incentive plan target award to $3 million and it increased Legere's minimum annual long-term incentive plan target award to $12 million.

The move doesn't come as much of a surprise: T-Mobile had a record year with a whopping 2.1 million new customers in the fourth quarter alongside a $101 million net profit.

Legere received a total compensation package in 2013 of almost $30 million. That included a $1.25 million annual base salary, $22.5 million in stock awards and $4.83 million in compensation from T-Mobile's non-equity incentive plan. The figures put Legere among the best-paid executives in the wireless industry.