Comcast Reveals Contract Terms For Recently Elevated President Michael Cavanagh
deadline.comComcast has disclosed contract terms for Michael Cavanagh, a longtime exec who was promoted to president last October. The agreement will keep Cavanagh in the fold through December 31, 2027 (a fairly routine 5-year term), at an annual base salary of $2.5 million, which takes effect on March 1.
Cavanagh also got the grant of a performance-based option to buy 2 million shares of the Company’s Class A common stock, with an aggregate grant date fair value equal to $14.8 million.
The promotion made Cavanagh just the third exec ever to hold the title of president at the nearly 60-year-old, Philadelphia-based media giant.
He works closely with CEO Brian Roberts to manage the company’s businesses. After the promotion, he is remaining CFO. In 2021, Cavanagh’s total compensation was $27.4 million, the company reported earlier this year.
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