Comcast CEO got $27.4 million in 2006 compensation

Brian Roberts, chairman and chief executive of Comcast Corp., the nation's largest cable television operator, received a 2006 compensation package valued by the company at $27.4 million, according to a proxy statement filed with federal regulators today.

Roberts was given a salary of $2.5 million, a bonus of $3 million, incentive awards worth $8.4 million and other perks valued at $2.9 million, which included personal use of the company plane, contributions to retirement plans and payment of tax liabilities and insurance policies.

Roberts also received stock options and restricted stock awards valued by the company at $10.6 million on the day they were granted, a Securities and Exchange Commission filing showed.

The proxy included a shareholder proposal that would give shareholders the right to vote on whether compensation to senior executives was excessive, appropriate or too low as a report card on the compensation committee's decisions. The proposal said Comcast's executive pay was "excessive."

Another shareholder is proposing that the company prepare a report to measure the gap between the most highly paid executives at Comcast and its lowest earners, and to see if remedies are needed.

Last year, Roberts also exercised 1.2 million stock options and realized a value of $19.9 million. In addition, the value of stock awards that vested came to $1.1 million on 61,875 shares.

Options exercised and the value of vested stock awards aren't included in the calculation for total compensation because these securities may have been granted in prior years and also depend in part on the personal finance decisions of the executive.

In 2006, Comcast reported an 18 percent increase in revenue to $24.9 billion and net income of $2.5 billion, nearly tripling from the year before. The Philadelphia-based company credits the popularity of its discounted bundle of video, Internet and phone service for the gains.

Comcast's shares rose by 63 percent last year. The stock fell by a penny to $25.75 in late afternoon trading on the Nasdaq Stock Market.

The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.