Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-25

Liberty Global (LBTYK)

CEO Michael Fries was paid $37,717,946 in fiscal year 2025, ↓ down 17.5% from fiscal year 2024 (SEC filing 0001193125-26-191485 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$37,717,946 ↓
Michael Fries total, FY2025
—
CEO pay percentile vs peers
383:1
CEO-to-median pay ratio
86.2%
Say-on-pay support, latest vote

Ask our research desk, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Michael Fries (Chief Executive Officer & President), FY2025 total compensation $37,717,946 (base salary $3,000,000) [exec_comp, SEC accession 0001193125-26-191485, filed 2026-04-29]

LBTYK's next annual pay disclosure, estimated April 29, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Fries$3,000,000—$18,042,057—$13,000,000—$3,675,889$37,717,946
Chief Executive Officer & President
Charles Bracken1,292,490—7,345,402—4,000,000—213,33212,851,224
EVP & Chief Financial Officer
Enrique Rodriguez1,197,000—11,213,478——297,05381,55812,789,089
EVP & Chief Technology Officer
Andrea Salvato1,064,559—6,951,724—3,500,000—139,44511,655,728
EVP & Chief Development Officer
Bryan Hall1,251,000—5,056,004—2,750,000292,57747,9569,397,537
EVP & General Counsel

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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Michael Fries$37,717,946$45,693,754$44,748,400↓ −7,975,808
Charles Bracken12,851,22413,287,50413,249,169↓ −436,280
Enrique Rodriguez12,789,08913,088,323—↓ −299,234
Andrea Salvato11,655,72812,064,78911,018,554↓ −409,061
Bryan Hall9,397,5379,996,2499,336,747↓ −598,712

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against LBTYK
6 companies name LBTYK as a compensation peer

Each company listed discloses LBTYK 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 LBTYK in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Charles BrackenRSU2025-03-21——22,583—$259,930
Bryan HallRSU2025-03-21——35,900—418,953
Enrique RodriguezRSU2025-03-21——18,820—226,405
Enrique RodriguezRSU2025-03-21——21,314—260,244
Andrea SalvatoRSU2025-03-21——20,701—249,033
Andrea SalvatoRSU2025-03-21——50,683—615,798
Michael FriesRSU2025-03-21——264,506—3,213,748
Bryan HallRSU2025-03-21——35,900—436,185
Charles BrackenRSU2025-03-21——52,794—641,447
Enrique RodriguezRSU2025-03-21——21,314—248,521
Charles BrackenRSU2025-03-21——52,794—616,106
Michael FriesRSU2025-03-21——77,159—928,223
Bryan HallRSU2025-03-21——4,225—51,587
Enrique RodriguezRSU2025-03-21——18,820—216,618
Andrea SalvatoRSU2025-03-21——50,683—591,471
Charles BrackenRSU2025-03-21——22,583—271,673
Charles BrackenRSU2025-03-21——2,445—28,509
Charles BrackenRSU2025-03-21——2,445—29,853
Michael FriesRSU2025-03-21——77,159—888,100
Bryan HallRSU2025-03-21——15,056—173,295
Bryan HallRSU2025-03-21——4,225—49,264
Bryan HallRSU2025-03-21——15,056—181,124
Enrique RodriguezRSU2025-03-21——52,794—641,447
Enrique RodriguezRSU2025-03-21——52,794—616,106
Andrea SalvatoRSU2025-03-21——2,466—30,110
Andrea SalvatoRSU2025-03-21——20,701—238,269
Andrea SalvatoRSU2025-03-21——2,466—28,754
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Charles Bracken$1,847,518$0$00.0%
Bryan Hall1,310,408000.0%
Enrique Rodriguez2,209,341000.0%
Andrea Salvato1,753,435000.0%
Michael Fries5,030,071000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Charles BrackenRSU187,530—$2,089,084
Enrique RodriguezRSU185,766—2,050,857
Bryan HallRSU12,110—134,905
Andrea SalvatoOption158,32011.3—
Bryan HallOption150,8489.66—
Enrique RodriguezRSU187,530—2,089,084
Bryan HallRSU127,520—1,420,573
Bryan HallRSU4,225—47,067
Andrea SalvatoRSU34,646—385,956
Bryan HallRSU251,304—2,799,527
Charles BrackenRSU185,766—2,050,857
Andrea SalvatoRSU2,466—27,471
Charles BrackenOption83,24310.7—
Bryan HallRSU35,900—399,926
Charles BrackenOption221,8379.66—
Michael FriesRSU264,506—2,920,146
Andrea SalvatoRSU180,030—2,005,534
Andrea SalvatoRSU354,782—3,952,271
Michael FriesRSU1,851,544—20,441,046
Enrique RodriguezRSU36,090—402,043
Enrique RodriguezRSU369,564—4,116,943
Charles BrackenOption219,75010.2—
Andrea SalvatoOption210,96010.2—
Michael FriesRSU1,280,590—14,137,714
Charles BrackenRSU369,564—4,116,943
Michael FriesRSU185,522—2,048,163
Enrique RodriguezRSU21,314—237,438
Michael FriesRSU248,784—2,746,575
Bryan HallRSU24,541—273,387
Andrea SalvatoRSU178,336—1,968,829
Bryan HallRSU126,320—1,394,573
Charles BrackenRSU52,794—588,125
Enrique RodriguezRSU52,794—588,125
Charles BrackenRSU17,808—198,381
Enrique RodriguezOption139,85311.3—
Andrea SalvatoRSU50,683—564,609
Enrique RodriguezRSU15,100—168,214
Charles BrackenRSU36,090—402,043
Enrique RodriguezRSU30,200—333,408
Michael FriesOption860,34311.3—
Charles BrackenRSU35,614—393,179
Andrea SalvatoRSU34,190—377,458
Bryan HallRSU24,218—267,367
Andrea SalvatoRSU17,095—190,438
Charles BrackenRSU2,445—27,237
Bryan HallOption149,42910.2—
Michael FriesOption1,522,07910.2—
Charles BrackenOption164,92011.3—
Bryan HallOption56,60710.7—
Andrea SalvatoOption212,9649.66—
Bryan HallOption112,14611.3—
Enrique RodriguezOption70,59010.7—
Enrique RodriguezOption221,8379.66—
Enrique RodriguezOption219,75010.2—
Andrea SalvatoOption79,91210.7—
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation committee's primary objectives are to motivate executives to maximize contributions, attract and retain top-caliber employees, and align executive interests with shareholders by emphasizing long-term, equity-based compensation that increases in value as the share price increases.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantThe Croner Company
Clawback policytrue
Anti-hedgingfalse
Anti-pledgingfalse
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-23212,405,22133,998,2027,603,82186.2%Passed
20202020-06-30170,232,93491,909,61610,441,86964.94%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 yearMeeting dateApproval — company's computation
20262026-06-2386.2%a
20202020-06-3064.94%b

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

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.

07

CEO pay ratio

Ratio (CEO : median employee)383 : 1
CEO total compensation$37,717,946
Median employee compensation$98,575
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Paul A. GouldIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance$205,000$34,030$-9——$469,657
Marisa D. DrewIndependent150,0009,311-9—-7389,937
Daniel E. SanchezIndependent150,0005740—380,577—
John C. MaloneIndependent055—750,599—
Andrew J. ColeIndependent · Compensation · Nominating and Corporate Governance150,00059915—380,617—
Larry E. RomrellIndependent · Compensation (Chair) · Nominating and Corporate Governance180,0003,9700—413,942—
Miranda Curtis CMGIndependent · Audit · Nominating and Corporate Governance165,0005970—395,569—
Anthony WernerIndependent · Audit75,0129750—380,978—
Liberty Global Class AIndependent000———
Richard R. GreenIndependent · Compensation · Nominating and Corporate Governance (Chair)41,3405945,161—400,758—
09

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—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,116,352
Equity awards (grant-date value)$50,655
All other compensation$3,103,033
Total cost of the board$4,270,040

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

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
10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Liberty Global2025Michael Fries$3,000,000$18,042,057—$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.

10d

Frequently asked questions

Who was the highest-paid executive at Liberty Global in fiscal 2025?
As disclosed, Michael Fries (Chief Executive Officer & President) was the highest-paid executive at Liberty Global in fiscal 2025, with total compensation of $37,717,946.
What is Liberty Global's CEO-to-median employee pay ratio?
As disclosed, Liberty Global's CEO-to-median employee pay ratio was 383:1.
How did shareholders vote on Liberty Global's executive compensation?
As disclosed, 86.2% of shareholders supported Liberty Global's executive compensation in the latest say-on-pay vote.
How much does Liberty Global spend in total on board compensation for fiscal 2025?
As disclosed, Liberty Global reported total board compensation of $4,270,040 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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Michael FriesDEF 14A2026-04-290001193125-26-191485Section “Summary Compensation Table” · page 44. As printed: 37,717,946. Filing ↗
2Section 01, Charles BrackenDEF 14A2026-04-290001193125-26-191485Section “Summary Compensation Table” · page 44. As printed: 12,851,224. Filing ↗
3Section 01, Enrique RodriguezDEF 14A2026-04-290001193125-26-191485Section “Summary Compensation Table” · page 44. As printed: 12,789,089. Filing ↗
4Section 01, Andrea SalvatoDEF 14A2026-04-290001193125-26-191485Section “Summary Compensation Table” · page 44. As printed: 11,655,728. Filing ↗
5Section 01, Bryan HallDEF 14A2026-04-290001193125-26-191485Section “Summary Compensation Table” · page 44. As printed: 9,397,537. Filing ↗
6Section 03, Charles Bracken RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
7Section 03, Bryan Hall RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 748427–748434
8Section 03, Enrique Rodriguez RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 782222–782229
9Section 03, Enrique Rodriguez RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 788591–788598
10Section 03, Andrea Salvato RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 819125–819132
11Section 03, Andrea Salvato RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 831199–831206
12Section 03, Michael Fries RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 677629–677638
13Section 03, Bryan Hall RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 751434–751441
14Section 03, Charles Bracken RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 714536–714543
15Section 03, Enrique Rodriguez RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 785419–785426
16Section 03, Charles Bracken RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 711529–711536
17Section 03, Michael Fries RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 674621–674628
18Section 03, Bryan Hall RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 745396–745402
19Section 03, Enrique Rodriguez RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
20Section 03, Andrea Salvato RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 828192–828199
21Section 03, Charles Bracken RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 702462–702469
22Section 03, Charles Bracken RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 705493–705499
23Section 03, Charles Bracken RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 708498–708504
24Section 03, Michael Fries RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 671589–671596
25Section 03, Bryan Hall RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
26Section 03, Bryan Hall RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 742226–742232
27Section 03, Bryan Hall RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 739030–739037
28Section 03, Enrique Rodriguez RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 794630–794637
29Section 03, Enrique Rodriguez RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 791623–791630
30Section 03, Andrea Salvato RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 825161–825167
31Section 03, Andrea Salvato RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
32Section 03, Andrea Salvato RSUDEF 14A2026-04-290001193125-26-191485Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 822156–822162
33Section 07, pay ratioDEF 14A2026-04-290001193125-26-191485Section “CEO Pay Ratio”. As printed: 383 : 1. Filing ↗machine: span 1438487–1438490
34Section 08, Paul A. GouldDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: 469,657. Filing ↗machine: span 1572578–1572585
35Section 08, Marisa D. DrewDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: 389,937. Filing ↗machine: span 1566834–1566841
36Section 08, Daniel E. SanchezDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
37Section 08, John C. MaloneDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
38Section 08, Andrew J. ColeDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
39Section 08, Larry E. RomrellDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
40Section 08, Miranda Curtis CMGDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
41Section 08, Anthony WernerDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
42Section 08, Liberty Global Class ADEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
43Section 08, Richard R. GreenDEF 14A2026-04-290001193125-26-191485Section “Director Compensation”. As printed: —. Filing ↗
44Section 06, 2026 voteForm 8-K2026-06-250001570585-26-000094Item 5.07 · say-on-pay result. As reported: 86.2% (votes for as printed: 212,405,221). Filing ↗
45Section 06, 2020 voteForm 8-K2020-07-060001570585-20-000225Item 5.07 · say-on-pay result. As reported: 64.94% (votes for as printed: 170,232,934). Filing ↗
46Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
47Section 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).machine: formula: sums + PSU ratio
48Section 09b board cost (computed)Computed——Cash 1,116,352 + equity 50,655 + all other 3,103,033 = 4,270,040, summed across the director compensation table rows.machine: formula: Σ = 4,270,040
49Liberty Global (subject), Section 10b CEO totalDEF 14A2026-04-290001193125-26-191485CEO total compensation as printed in Liberty Global's own proxy. As printed: 37,717,946. Filing ↗

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