The total compensation for Global CEO Bob Bakish fell from $38.9 million in 2021, which included a generous stock award.
According to a company SEC filing, Bakish had a base salary of $3.1 million and a non-equity incentive plan compensation (like a cash bonus) of $16.8 million. "All other" reported compensation was $106,800.
According to the company's annual proxy statement, Bakish received a $15.9 million stock award in 2020.
The CEO pay ratio the annual total compensation of the chief executive to the median employee was 212-to-1.
Bakish took over the lead of the former ViacomCBS when it merged in late 2019. His contract is for four years.
"In a time of enormous challenges and opportunities," Bakish' strategic leadership and management, according to the proxy, "creating the number of worldwide streaming subscribers and revenue while increasing revenue from traditional sources."
ViacomCBS began Paramount+ in March 2021, then rebranded itself to a year later, according to a recent investor day. 100 million streaming subscribers are predicted in 2024, surpassing a previous forecast of 65 million-75 million, following record ads in the fourth quarter. It had 56 million at the end of the year.
Paramount stock's has had a tough trip along with others in the market as investors began to question the high cost and still uncharted returns of streaming following subscriber misses from industry leader Netflix and intense competition that has recently driven the mega-merger of WarnerMedia and Discovery.
Shareholders may recognize that Bakish's wage, although excessive, puts him towards the bottom of the list of media's highest compensated CEOs in 2021, led by Endeavor, Warner Bros. Discovery, Charter, Netflix, and Fox.