Comcast’s Mike Cavanagh Extends Contract to 2029

Once Mike Cavanagh takes over Comcast as co-CEO in January alongside Brian Roberts, he’ll be in that role for at least three years.

According to a new SEC filing, the current Comcast president’s base salary will become $2.75 million annually before bonuses, starting Jan. 2, 2026. He will also receive $35 million in stock awards due to performance, with a contract that is set until Jan. 1, 2029.

Cavanagh’s 2024 pay package included a $2.5 million base salary, $13.63 million in stock awards, $4.38 million in option awards, $7.5 million in non-equity incentive plan compensation and $255,162 in “other” compensation, including $10,000 in company contributions to retirement investment plan accounts and $245,162 for his personal use of a company-provided aircraft.

“Comcast is a special company with exceptional businesses and an incredible team,” Cavanagh said in a September statement announcing the news. “It is an honor to work with Brian and the entire Comcast NBCUniversal leadership team during this exciting and transformative time in our industry.”

“Since joining Comcast a decade ago, Mike has proven himself to be a trusted and collaborative leader,” Roberts added. “He is the ideal person to help lead Comcast as we manage the pivot we are making to drive growth across the company. Mike and I work seamlessly together, and I am thrilled to be partnering with him as co-CEO and with the rest of our talented management team, for years to come.”

For 2024, Roberts’ pay package included a $2.5 million base salary, $17.9 million in stock awards, $5.75 million in option awards, $7.5 million in non-equity incentive plan compensation and $200,483 in “other” compensation, including $10,000 in company contributions to retirement investment plan accounts and $190,483 for Roberts’ personal use of a company-provided aircraft.

Cavanagh first joined the company in 2015 as chief financial officer after over 20 years in the financial services industry and permanently took oversight of NBCUniversal after Jeff Shell’s ouster in 2023.

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