Mel Karmazin made $11 Million last year


Mel KarmazinThe Sirius XM Satellite Radio CEO departed the satellite service last year with plenty of money in his pockets. Karmazin earned $11 million in 2012, his last year as CEO of Sirius XM Radio, up from $10.7 million the previous year.

Karmazin, who left as Liberty Media was taking control of it through stock purchases, earned the bulk of his compensation via a $9.5 million cash bonus that was based in part on increases in subscribers, up 2 million in 2012 to 23.9 million, and a 71% increase in free cash flow to $709 million.

Current CEO James Meyer earned $3.3 million in 2012, up from $3.1 million, the company said in a regulatory filing 4/10.

Chief content officer Scott Greenstein earned $2.4 million, up from $2.3 million, and CFO David Frear was compensated $2.1 million, down from the $20.8 million he made in 2011 when he was given $18.9 million in stock options.


  1. That’s a pretty hefty compensation package. It looks to me like something around 50 cents or more of a monthly subscription is going to simply pay the top brass. I’d give those executives a nice stock bonus package, and have their salary reduced to something in the mid-six figures. And, I’d pass the savings on to subscribers, encouraging them to join and/or stay subscribed. That’s how you grow a business.

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