After AT&T was rebuffed by U.S. anti-trust regulators in their effort to purchase T-Mobile for $39 billion, the telecom company had to pay a $4.2 billion opt-out clause. This failed deal resulted in a $2 million cut to CEO Randall Stephenson’s salary, dragging it down to $18.7 million for 2011.
In addition, Stephenson’s cash bonus was cut by 25%, according to Lance Whitney in CNET News, along with another 6% in reduced stock options. Acording to the Wall Street Journal, this brought the chief executives total 2011 earnings down to only $22.02 million.
In comments following the story, a CNET News reader wrote, “Aww, that poor guy! How will he survive, making only 296 times the income of the average American household?” Another reader calculated his salary, without bonuses, had the chief executive “only making $9,000 per hour.”