House Democratic leader Nancy Pelosi said most bonuses being handed out were ‘crumbs’.
When companies started handing out bonuses of $1,000 or more to workers in January as a result of the GOP tax bill, House Democratic leader Nancy Pelosi said they received “crumbs”.
Pelosi was not impressed. “In terms of the bonus that corporate America received versus the crumbs that they are giving to workers to kind of put the schmooze on is so pathetic,” she said.
But highly compensated towerco executives weren’t relying upon the new tax code to see if their company will provide them handsome bonuses since it’s typically a time-honored tradition of just waiting for their compensation board’s announcement.
Yesterday, American Tower Corp.’s compensation committee announced four executives’ bonuses that could be subject to an increase, up to a maximum of 200% of the executive’s bonus target.
James D. Taiclet, Jr., Chairman of the Board, President and Chief Executive Officer
Salary: $1,100,000 Bonus: 130% / $1,430,000
Thomas A. Bartlett, Executive Vice President, Chief Financial Officer and Treasurer
Salary: $766,500 Bonus: 95% / $728,175
William H. Hess, Executive Vice President, International Operations and President, Latin America and EMEA
Salary: $664,300 Bonus: 95% / $631,085
Steven C. Marshall, Executive Vice President and President, U.S. Tower Division
Salary: $664,300 Bonus: 95% / $631,085
Edmund DiSanto, Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
Salary: $613,200 Bonus 95% / $582,540
Taiclet’s salary hasn’t increased for at least five years; however, it would not be advisable to start a Go Fund Me page to assist him since his bonuses and perks keep increasing every year. And it is likely that his bonus in 2018 will be increased since he recently announced that the company had surpassed its strategic plan of having 100,000 towers and small cell systems by the end of 2017.
“We ended the year with more than 150,000 sites, exceeding the goal by over 50%,” Taiclet said.
According to a Wireless Estimator article in 2016, Taiclet made $12,704,773 in total compensation in 2014.
