Companies Liberty Global Ltd.
Liberty Global (LBTYA): executive pay, fiscal 2025
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CEO pay, last three years
- $45,693,754FY2024
- $37,717,946FY2025
CEO total pay was $37,717,946 in fiscal 2025, down from $45,693,754 in fiscal 2024.
FY2025: salary $3,000,000 · bonus $0 · stock awards $18,042,057 · option awards $0
Executives and directors
Andrea Salvato · ExecutiveBryan Hall · General CounselCharles Bracken · CFOEnrique Rodriguez · CTOMichael Fries · CEOAndrew J. Cole · Independent DirectorAnthony G. Werner · Independent DirectorDaniel E. Sanchez · Independent DirectorJ David Wargo · Independent DirectorJohn C. Malone · Former director (through FY2025)Larry E. Romrell · Independent DirectorLiberty Global Class A · Independent DirectorMarisa D. Drew · Independent DirectorMiranda Curtis CMG · Independent DirectorPaul A. Gould · Independent DirectorRichard R. Green · Independent Director
Frequently asked questions
Who was the highest-paid executive at Liberty Global Ltd. in fiscal 2025?
As disclosed, Michael Fries (Chief Executive Officer & President) was the highest-paid executive at Liberty Global Ltd. in fiscal 2025, with total compensation of $37,717,946.
What is Liberty Global Ltd.'s CEO-to-median employee pay ratio?
As disclosed, Liberty Global Ltd.'s CEO-to-median employee pay ratio was 383:1.
How did shareholders vote on Liberty Global Ltd.'s executive compensation?
As disclosed, 86.2% of shareholders supported Liberty Global Ltd.'s executive compensation in the latest say-on-pay vote.
How much does Liberty Global Ltd. spend in total on board compensation for fiscal 2025?
As disclosed, Liberty Global Ltd. reported total board compensation of $2,026,131 for fiscal 2025.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Fries | $3,000,000 | $0 | $18,042,057 | $0 | $13,000,000 | $0 | $3,675,889 | $37,717,946 |
| Chief Executive Officer & President | ||||||||
| Charles Bracken | 1,292,490 | 0 | 7,345,402 | 0 | 4,000,000 | 0 | 213,332 | 12,851,224 |
| EVP & Chief Financial Officer | ||||||||
| Enrique Rodriguez | 1,197,000 | 0 | 11,213,478 | 0 | 0 | 297,053 | 81,558 | 12,789,089 |
| EVP & Chief Technology Officer | ||||||||
| Andrea Salvato | 1,064,559 | 0 | 6,951,724 | 0 | 3,500,000 | 0 | 139,445 | 11,655,728 |
| EVP & Chief Development Officer | ||||||||
| Bryan Hall | 1,251,000 | 0 | 5,056,004 | 0 | 2,750,000 | 292,577 | 47,956 | 9,397,537 |
| EVP, General Counsel and Secretary | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Michael Fries | $37,717,946 | $45,693,754 | — | ↓ −7,975,808 |
| Charles Bracken | 12,851,224 | 13,287,504 | — | ↓ −436,280 |
| Enrique Rodriguez | 12,789,089 | 13,088,323 | 9,776,263 | ↓ −299,234 |
| Andrea Salvato | 11,655,728 | 12,064,789 | 11,018,554 | ↓ −409,061 |
| Bryan Hall | 9,397,537 | 9,996,249 | 9,336,747 | ↓ −598,712 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The compensation committee has three primary objectives with respect to executive compensation--motivation, retention and value creation for our shareholders.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | The Croner Company |
| Clawback policy | true |
| Anti-hedging | False |
| Anti-pledging | False |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Liberty Global Class | — | 2025-03-21 | — | — | 125,652 | — | $251,304 |
| Liberty Global Class | — | 2025-03-21 | — | — | 52,794 | — | 641,447 |
| Liberty Global Class | — | 2025-03-21 | — | — | 184,782 | — | 369,564 |
| Liberty Global Class | — | 2025-03-21 | — | — | 925,772 | — | 1,851,544 |
| Michael Fries | RSU | 2025-03-21 | — | — | 264,506 | — | 3,213,748 |
| Bryan Hall | RSU | 2025-03-21 | — | — | 15,056 | — | 181,124 |
| Liberty Global Class | — | 2025-03-21 | — | — | — | — | 8,043,750 |
| Liberty Global Class | — | 2025-03-21 | — | — | — | — | 2,475,000 |
| Liberty Global Class | — | 2025-03-21 | — | — | — | — | 1,701,563 |
| Liberty Global Class | — | 2025-03-21 | — | — | 52,794 | — | 616,106 |
| Charles Bracken | RSU | 2025-03-21 | — | — | 22,583 | — | 259,930 |
| Bryan Hall | RSU | 2025-03-21 | — | — | 4,225 | — | 49,264 |
| Bryan Hall | RSU | 2025-03-21 | — | — | 4,225 | — | 51,587 |
| Charles Bracken | RSU | 2025-03-21 | — | — | 2,445 | — | 28,509 |
| Bryan Hall | RSU | 2025-03-21 | — | — | 35,900 | — | 418,953 |
| Bryan Hall | RSU | 2025-03-21 | — | — | 15,056 | — | 173,295 |
| Bryan Hall | RSU | 2025-03-21 | — | — | 35,900 | — | 436,185 |
| Charles Bracken | RSU | 2025-03-21 | — | — | 22,583 | — | 271,673 |
| Michael Fries | RSU | 2025-03-21 | — | — | 77,159 | — | 928,223 |
| Michael Fries | RSU | 2025-03-21 | — | — | 77,159 | — | 888,100 |
| Charles Bracken | RSU | 2025-03-21 | — | — | 2,445 | — | 29,853 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Michael Fries | $5,030,071 | $0 | $0 | 0.0% |
| Bryan Hall | 1,310,408 | 0 | 0 | 0.0% |
| Charles Bracken | 589,965 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Charles Bracken | RSU | 2,445 | — | $27,237 |
| Andrea Salvato | RSU | 2,466 | — | 27,471 |
| Bryan Hall | RSU | 4,225 | — | 47,067 |
| Bryan Hall | PSU | 12,110 | — | 134,905 |
| Enrique Rodriguez | PSU | 15,100 | — | 168,214 |
| Andrea Salvato | PSU | 17,095 | — | 190,438 |
| Charles Bracken | PSU | 17,808 | — | 198,381 |
| Enrique Rodriguez | RSU | 21,314 | — | 237,438 |
| Bryan Hall | PSU | 24,218 | — | 267,367 |
| Bryan Hall | PSU | 24,541 | — | 273,387 |
| Enrique Rodriguez | PSU | 30,200 | — | 333,408 |
| Andrea Salvato | PSU | 34,190 | — | 377,458 |
| Andrea Salvato | PSU | 34,646 | — | 385,956 |
| Charles Bracken | PSU | 35,614 | — | 393,179 |
| Bryan Hall | PSU | 35,900 | — | 399,926 |
| Charles Bracken | PSU | 36,090 | — | 402,043 |
| Enrique Rodriguez | PSU | 36,090 | — | 402,043 |
| Andrea Salvato | PSU | 50,683 | — | 564,609 |
| Charles Bracken | PSU | 52,794 | — | 588,125 |
| Enrique Rodriguez | PSU | 52,794 | — | 588,125 |
| Bryan Hall | Option | 56,607 | 10.7 | — |
| Enrique Rodriguez | Option | 70,590 | 10.7 | — |
| Andrea Salvato | Option | 79,912 | 10.7 | — |
| Charles Bracken | Option | 83,243 | 10.7 | — |
| Bryan Hall | Option | 112,146 | 11.3 | — |
| Bryan Hall | PSU | 126,320 | — | 1,394,573 |
| Bryan Hall | PSU | 127,520 | — | 1,420,573 |
| Enrique Rodriguez | Option | 139,853 | 11.3 | — |
| Bryan Hall | Option | 149,429 | 10.2 | — |
| Bryan Hall | Option | 150,848 | 9.66 | — |
| Andrea Salvato | Option | 158,320 | 11.3 | — |
| Charles Bracken | Option | 164,920 | 11.3 | — |
| Andrea Salvato | PSU | 178,336 | — | 1,968,829 |
| Andrea Salvato | PSU | 180,030 | — | 2,005,534 |
| Michael Fries | PSU | 185,522 | — | 2,048,163 |
| Charles Bracken | PSU | 185,766 | — | 2,050,857 |
| Enrique Rodriguez | PSU | 185,766 | — | 2,050,857 |
| Charles Bracken | PSU | 187,530 | — | 2,089,084 |
| Enrique Rodriguez | PSU | 187,530 | — | 2,089,084 |
| Andrea Salvato | Option | 210,960 | 10.2 | — |
| Andrea Salvato | Option | 212,964 | 9.66 | — |
| Charles Bracken | Option | 219,750 | 10.2 | — |
| Enrique Rodriguez | Option | 219,750 | 10.2 | — |
| Charles Bracken | Option | 221,837 | 9.66 | — |
| Enrique Rodriguez | Option | 221,837 | 9.66 | — |
| Michael Fries | PSU | 248,784 | — | 2,746,575 |
| Bryan Hall | PSU | 251,304 | — | 2,799,527 |
| Michael Fries | PSU | 264,506 | — | 2,920,146 |
| Andrea Salvato | PSU | 354,782 | — | 3,952,271 |
| Charles Bracken | PSU | 369,564 | — | 4,116,943 |
| Enrique Rodriguez | PSU | 369,564 | — | 4,116,943 |
| Michael Fries | Option | 860,343 | 11.3 | — |
| Michael Fries | PSU | 1,280,590 | — | 14,137,714 |
| Michael Fries | Option | 1,522,079 | 10.2 | — |
| Michael Fries | PSU | 1,851,544 | — | 20,441,046 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| John C. MaloneNot independent · Departed during FY | — | — | $2,299,697 | — | $750,599 | $3,050,296 |
| Paul A. GouldIndependent · Audit (Chair) · Compensation · Nominating Corporate Governance | 205,000 | — | 114,985 | — | 624 | 469,657 |
| Larry E. RomrellIndependent · Compensation (Chair) · Nominating Corporate Governance | 180,000 | — | 229,972 | — | 3,970 | 413,942 |
| Richard R. GreenIndependent · Compensation · Nominating Corporate Governance (Chair) | 41,340 | — | 114,985 | — | 594 | 400,758 |
| Miranda Curtis CMGIndependent · Audit · Nominating Corporate Governance | 165,000 | — | 229,972 | — | 597 | 395,569 |
| J David WargoIndependent · Audit | 150,000 | — | 114,985 | — | 624 | 395,099 |
| Marisa D. DrewIndependent · People Planet Progress · Treasury | 150,000 | — | 114,985 | — | 623 | 389,937 |
| Anthony G. WernerIndependent · Audit | 75,012 | — | 114,985 | — | 975 | 380,978 |
| Andrew J. ColeIndependent · Compensation · Nominating Corporate Governance | 150,000 | — | 114,985 | — | 599 | 380,617 |
| Daniel E. SanchezIndependent · People Planet Progress | 150,000 | — | 114,985 | — | 574 | 380,577 |
| Michael T. FriesEmployee director · Board Chair · Treasury | — | — | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | $150,000 |
|---|---|
| Annual equity retainer | $230,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 55,000 / 30,000 / 15,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,266,352 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $759,779 |
| Total cost of the board | $2,026,131 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Liberty Global as a peer
Companies that benchmark against LBTYA
6 companies name LBTYA as a compensation peer
- CHARTER COMMUNICATIONS, INC. /MO/CHTRFY2025
- Liberty Latin America Ltd.LILAKFY2025
- NEWS CORPNWSFY2026
- SERVICE CORP INTERNATIONALSCIFY2025
- T-Mobile US, Inc.TMUSFY2025
- Warner Bros. Discovery, Inc.WBDFY2025
Each company listed discloses LBTYA in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LBTYA in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Limit Risk-Taking
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Liberty Global Ltd. | 2025 | Michael Fries | $3,000,000 | $18,042,057 | $0 | $13,000,000 | $37,717,946 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-23 | 212,405,221 | 33,998,202 | 7,603,821 | 86.2% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-23 | 86.2%a |
a. Approved under the standard stated in the filing — “Abstentions will also have no effect on the outcome of the auditor appointment proposal and the say-on-pay proposal because each of these proposals is decided by a majority of the votes cast.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 383 : 1 |
|---|---|
| CEO total compensation | $37,717,946 |
| Median employee compensation | $98,575 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (43 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Michael Fries. DEF 14A, filed 2026-04-29. Section “Summary Compensation Table” · page 44. As printed: 37,717,946. View filing ↗
- Section 01, Charles Bracken. DEF 14A, filed 2026-04-29. Section “Summary Compensation Table” · page 44. As printed: 12,851,224. View filing ↗
- Section 01, Enrique Rodriguez. DEF 14A, filed 2026-04-29. Section “Summary Compensation Table” · page 44. As printed: 12,789,089. View filing ↗
- Section 01, Andrea Salvato. DEF 14A, filed 2026-04-29. Section “Summary Compensation Table” · page 44. As printed: 11,655,728. View filing ↗
- Section 01, Bryan Hall. DEF 14A, filed 2026-04-29. Section “Summary Compensation Table” · page 44. As printed: 9,397,537. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Fries RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bryan Hall RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Liberty Global Class . DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Bracken RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bryan Hall RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bryan Hall RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Bracken RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bryan Hall RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bryan Hall RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Bryan Hall RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Bracken RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Fries RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Fries RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Bracken RSU. DEF 14A, filed 2026-04-29. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-29. Section “CEO Pay Ratio”. As printed: 383 : 1. View filing ↗
- Section 08, John C. Malone. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 3,050,296. View filing ↗
- Section 08, Paul A. Gould. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 469,657. View filing ↗
- Section 08, Larry E. Romrell. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 413,942. View filing ↗
- Section 08, Richard R. Green. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 400,758. View filing ↗
- Section 08, Miranda Curtis CMG. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 395,569. View filing ↗
- Section 08, J David Wargo. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 395,099. View filing ↗
- Section 08, Marisa D. Drew. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 389,937. View filing ↗
- Section 08, Anthony G. Werner. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 380,978. View filing ↗
- Section 08, Andrew J. Cole. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 380,617. View filing ↗
- Section 08, Daniel E. Sanchez. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: 380,577. View filing ↗
- Section 08, Michael T. Fries. DEF 14A, filed 2026-04-29. Section “Director Compensation”. As printed: —. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-25. Item 5.07 · say-on-pay result. As reported: 86.2% (votes for as printed: 212,405,221). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 1,266,352 + equity 0 + all other 759,779 = 2,026,131, summed across the director compensation table rows.
- Liberty Global Ltd. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Liberty Global Ltd.'s own proxy. As printed: 37,717,946. View filing ↗