Comcast CEO Brian Roberts Sells $20.4 Million in Company Stock

Brian Roberts, chairman and CEO of Comcast, has sold $20.4 million worth of shares in the media and cable giant, a small portion of his holdings.

The 469,515 shares Roberts sold on Nov. 26 represent less than 2% of his Comcast stock ownership. The Class A shares he sold were restricted stock units and options acquired as part of his compensation in January and March of this year, according to an SEC filing Tuesday.

As of February 2024, Roberts beneficially owned 31.3 million of Comcast’s Class A shares, less than 1% of its outstanding shares. He also owns 100% of Comcast’s Class B common stock, representing 33.3% of the combined voting power of the company’s two classes of voting common stock.

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Comcast, parent company of NBCUniversal, announced plans last week to spin off the bulk of its cable portfolio to existing shareholders. The new, publicly traded entity — known for now as “SpinCo” — will include basic cable networks MSNBC, CNBC, USA Network, Oxygen, E!, Syfy and Golf Channel along with digital properties Fandango, Rotten Tomatoes, GolfNow and SportsEngine. Comcast said SpinCo will take about a year to separate from the rest of NBCU.

“When you look at our assets, talented management team and balance sheet strength, we are able to set these businesses up for future growth,” Roberts said in announcing the cable spinoff plans. “With significant financial resources from day one, SpinCo will be ideally positioned for success and highly attractive to investors, content creators, distributors and potential partners.”

Roberts will own the same economic and voting interests in SpinCo as he does currently in Comcast, “though he will not serve on the SpinCo board or management team,” according to a memo from Comcast president Mike Cavanagh to NBCU staff.

In 2023, Roberts had a compensation package worth $35.47 million, up 11% from the year prior. That included a salary of $2.5 million, stock awards worth $15 million, stock options worth $9.2 million and a $8.55 million cash incentive bonus.

Roberts, 65, has been Comcast’s chairman since 2004 and CEO since 2002. From 1990-2022, he served as president of Comcast, which was founded by his father, Ralph Roberts.