Viacom Says Chairman Redstone, CEO Dauman Compensation Decline In 2015

(RTTNews) - Media conglomerate Viacom Inc. (VIAB, VIA) disclosed in the filing that its Founder and Executive Chairman Sumner Redstone's annual compensation in fiscal 2015 declined 85% to $2 million, versus a total of $13 million in 2014.

The company specified that Redstone's salary was unchanged in fiscal 2015. The company added that 92-year-old billionaire became ineligible to receive a bonus beginning in fiscal 2015 and has not been eligible to receive an annual equity award since fiscal 2012.

Viacom also said President and Chief Executive Officer Philippe Dauman's bonus declined 30% to $14 million in fiscal 2015, versus $20 million in the prior year and his contractually provided salary and annual equity award were substantially unchanged.

Dauman received a salary of $4 million in fiscal 2015, versus a salary of $3.9 million in fiscal 2014, and an annual equity award valued at $18.9 million in fiscal 2015, compared with an annual equity award valued at $19.9 million in fiscal 2014.