Comcast said it signed a new employment agreement with Stephen Burke, CEO of its NBCUniversal unit, that will keep him with the company through 2020.
The new deal gives Burke a grant of stock options valued at $10 million that will be 100% vested in 2023.
The stock grant was made “on account of Mr. Burke’s continuing outstanding work in improving NBCUniversal’s business and result and to incent him to continue to make decisions that build long term value,” Comcast said in a filing with the SEC.
According to Comcast’s most recent filing, Burke received total compensation of $33.7 million for 2015, including a $9 million cash bonus and $6.3 million in stock awards.
His contract was previously extended in 2013.