Cablevision Systems chief operating officer Tom Rutledge
received $28.2 million in total compensation in 2010, a 7.4% increase from the
$26.1 million he earned in the previous year, according to a proxy statement
filed Thursday.
Rutledge, who is responsible for Cablevision's cable television operations, its
Newsday publishing unit, its Lightpath commercial telecom unit, its Clearview
Cinemas movie theaters and its Rainbow Media programming arm, received a base
salary of $1.74 million (up 6% from 2009), $13.8 million in stock awards (a
nine-fold increase from $1.5 million in 2009) and $8.8 million in non-equity
incentives (down 16% from 2009).
Cablevision has long been considered one of the best run
cable operations in the industry and 2010 was a busy year: in February it spun off its
Madison Square Garden unit as a separate public company, later in
the year acquired
Bresnan Communications for $1.365 billion, spun off its Madison
Square Garden unit as a separate company and in December announced that it
would spin off its Rainbow Media programming unit as a separate entity. Also in
2010, Cablevision shares rose nearly 60% ($12.43 per share) in 2010.
Rutledge was the only Cablevision executive to experience
a pay hike in 2010. Chairman and founder Charles Dolan saw his total
compensation drop 13.8% to $13.8 million from $16 million in 2009; CEO James
Dolan's total pay package shrunk 21.6% to $13.4 million and chief financial
officer Michael Huseby took a 16% cut in total compensation to $4.6 million.
Executive vice president Gregg Seibert's 2010 compensation was essentially flat
at $3.8 million, according to the proxy.
