Ousted NBCUniversal CEO Jeff Shell Lost $43.3 Million in Stock After He Was Fired

variety.com:

Todd Spangler NY Digital Editor Jeff Shell, the former chief executive of NBCUniversal, forfeited stock grants and options worth $43.3 million after he was fired for cause earlier this week, according to a Comcast regulatory filing.

Shell was terminated as CEO of NBCU over the past weekend after an internal investigation into his relationship with Hadley Gamble, an international correspondent for CNBC. “As previously disclosed, Mr.

Shell’s employment was terminated with cause on April 23, 2023. As a result, he did not receive any supplemental payments or benefits in connection with his termination,” Comcast said in its 2023 proxy statement. “He will receive only his accrued but unpaid base salary and vacation time, vested employee benefits and reimbursement for any unreimbursed business expenses in accordance with his employment agreement.” SEE ALSO: Shell Shocked: How a Sex Scandal, Big Egos and Putin Led to Jeff Shell’s Sudden, No Payout Exit From NBCU In 2022, Shell’s pay package comprised $2.5 million in salary, plus $6.6 million in stock grants, $4.2 million in options, a $7.5 million bonus and and $215,130 in other compensation, per Comcast’s 2023 proxy statement filed Friday.

That would have totaled $21 million, except that Shell forfeited all his stock and options with his termination. The Comcast board’s compensation committee “had determined annual cash bonus outcomes in February 2023” prior to Shell’s firing, the company said in the proxy statement.