Cable Operators

Marcus To Reap $80M Payday in Comcast Deal

Other TWC Execs To Net Millions in Unvested Options, Awards 3/20/2014 1:35 PM Eastern

Time Warner Cable chairman and CEO Rob Marcus stands to reap nearly $80 million in unvested stock options, restricted stock awards after the cable giant’s merger with Comcast is complete, according to documents filed with the Securities and Exchange Commission Thursday.

According to an S-$ registration statement filed March 20, Marcus stands to receive about $20.5 million in cash, $56.5 million in equity awards and nearly $3 million in other awards for a total of $79.9 million in “golden-parachute compensation” in the wake of the Comcast deal.

Other top TWC executives stand to reap big paydays as well. According to the filing, TWC executive vice president and chief financial officer Artie Minson stands to receive $27.7 million, EVP and chief technology and networks operations officer Mike LaJoie $16.3 million and EVP and chief operating officer, Business Services Phil Meeks $11.7 million.

Comcast agreed to purchase TWC in an all-stock deal valued at about $69 billion, including assumed debt, on Feb. 13.  The companies expect the deal to close by the end of the year.

September