QVC Inc. President and CEO Mike George received $1.2 million in executive compensation last year, way down from the prior year’s $18.2 million.
That was the dish from the proxy statement that QVC’s parent, Liberty Interactive Corp., filed Monday with the Securities and Exchange Commission.
We’ve read the filing several times, and our thick head still can’t figure out exactly why George’s comp took such a hit. We’re not sure if it is related to stock options he has coming, or what.
We do know that the CEO of QVC’s parent, Greg Maffei, also had a significant drop in his executive compensation in 2013. It nosedived to $2.7 million from $45.3 million in 2012.
George’s base salary was just about flat this year, at just over $1 million. The biggest change in his comp was for option awards: He had none in 2013 but $16.1 million in 2012.
Of anyone can make sense of the filing, please enlighten us.