CBS CEO Leslie Moonves' 2013 Compensation Up 8% To $66.93 Mln

(RTTNews) - CBS Corp. (CBS) revealed in a regulatory filing that President and Chief Executive Officer Leslie Moonves received a 2013 total compensation that was about 8 percent higher than the prior year, while his base salary remained unchanged in 2013 as well as 2012.

The New York-based company revealed this in a definitive proxy statement filed with the U.S. Securities and Exchange Commission on Friday.

Leslie Moonves received a total compensation of $66.93 million, including base salary, stock grants and incentives in 2013, compared to the $62.16 million he received last year, and $69.9 million he got in 2011.

The total compensation received by Moonves in 2013 includes $3.51 million as base salary, $28.5 million as bonus, $26.5 million as stock grants, option awards of $5.85 million, and all other compensations of $1.23 million and the change in pension value and NQDC earnings of $1.34 million.

Moonves served as co-president and co-chief operating officer of Viacom, Inc., the predecessor to CBS Corp., from 2004 until the company split on December 31, 2005. Prior to that he had been in a series of executive positions for CBS since July 1995.

Meanwhile, the filing also shows a surge in 2013 compensation for the company's controlling shareholder and executive chairman Sumner Redstone to $57.2 million from last year's $31.3 million.

This was 83% higher than in 2012 and the increase was because of changes in the value of his pension. Redstone earned a salary of $1.8 million and a bonus of $10 million, unchanged from the previous two years, the filing added. The change in pension value and NQDC earnings grew to $45.4 million from the prior year's $13.9 million.

Sumner Redstone is the majority owner and Chairman of the Board of the National Amusements theater chain. Through National Amusements, Sumner Redstone and his family are majority owners of CBS Corporation and Viacom (itself the parent company of MTV Networks, BET, and the film studio Paramount Pictures), and are equal partners in MovieTickets.com.