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SEC Filing Reveals Time Warner Execs’ Pay

Apr 5, 2005  •  Post A Comment

Time Warner Chairman Richard Parsons’ total remuneration increased 11 percent in 2004 to $13.25 million from $11.9 million the year before, thanks to increased restricted stock awards.

Though neither Mr. Parsons’ base salary of $1.5 million nor his cash bonus of $8 million changed from year to year, Mr. Parsons received restricted stock awards totaling $3.45 million compared with $2.1 million a year ago, according to a filing with the Securities and Exchange Commission.

The salary information was part of the company’s annual shareholder proxy filing, submitted ahead of the company’s May 20 annual meeting. SEC rules require publicly traded companies to furnish salary information for their highest-paid executives.

According to the filing, Jeff Bewkes, chairman of Time Warner’s entertainment and networks group, saw his compensation fall to $10.2 million from a year-earlier figure of $18.4 million, driven down largely by restricted stock awards totaling $2.6 million, compared with a year-earlier figure of $10.8 million.

Don Logan, chairman of the media and communications group, saw his remuneration rise to $10.4 million from a year-earlier figure of $9.7 million.

Wayne Pace, Time Warner’s chief operating officer, experienced a 4 percent decline in remuneration to $4.8 million from just over $5 million a year earlier.