QVC Inc. top honcho Michael George took a $10 million cut in his executive compensation last year, bringing home a measly $18.2 million.
George’s salary and other comp was outlined in a filing by QVC’s parent, Liberty Medis Interactive, in a proxy statement filed with the Securities and Exchange Commission on Friday. The numbers are listed on page 44.
George’s base salary was $1,030,000, reflecting a 3 percent increase over 2011.
His non-equity incentive plan comp jumped up, to $875,500 from $700,000. And all other compensation soared to $223,977 from $52,583.
The big dive in George’s compensation was in his stock option awards, which dropped to $16,110,136 from $27,867,300. If you want the complicated answer for that, you’ll have to look at the proxy.
By the way, the head of QVC’s parent Liberty Interactive, Greg Maffei, took home $45.3 million in executive compensation. Not bad for a year’s work.