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Cablevision Releases Executive Compensation Data

Apr 29, 2005  •  Post A Comment

Cablevision CEO James Dolan’s remuneration was more than 50 percent less in 2004 than the previous year, when Mr. Dolan received an extraordinarily large restricted stock award.

According to the company’s proxy statement, filed Friday with the Securities and Exchange Commission, Mr. Dolan took home just over $8.1 million last year, versus nearly $16.5 million in 2003. Though his annual base salary of $1.6 million did not change year over year, and his annual cash bonus rose to $4.8 million from a year-earlier figure of $2.8 million, Mr. Dolan receiving $1.2 million in restricted stock awards in 2004, compared with a year-earlier figure of $11.6 million.

Meanwhile, the total take of Cablevision Chief Operating Officer Thomas Rutledge fell to $5.6 million from a year-earlier figure of more than $8 million, driven mainly by the same restricted stock award effect.

Vice Chairman Hank Ratner’s compensation fell to nearly $7 million from a year-earlier $12.2 million, while William Bell, another vice chairman who retired at the end of 2004, saw his pay rise to more than $13 million in 2004 from $7.6 million in 2003. Mr. Bell’s remuneration rose because of a severance payment of nearly $6.8 million.