Liberty Media (FWONK) executive compensation, 2026 proxy

Derek Chang, President and Chief Executive Officer, was paid $39.3M in 2025. The CEO-to-median-employee pay ratio was 559:1, on median employee pay of $70,409.

Filed
March 26, 2026
Annual meeting
May 11, 2026
Pay year
2025
Named executives
4
CEO total pay
$39.3M2025
CEO to median employee
559:1median $70,409
CEO pay in equity
91%$35.9M in awards
CEO Signing Bonus
$150,000Paid upon joining
CEO Discretionary Bonus
$1,000,000Year-end bonus
Median Employee Pay
$70,409Annual total compensation

How Chang was paid

$39.3M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary6%Bonus3%Stock awards55%Option awards36%Pension and deferred comp0%All other compensation0%

Named executive officers

ExecutiveTotal
John C. MaloneChairman of the Board$1,364,063
Derek ChangPresident and Chief Executive Officer$39,339,990
Brian J. WendlingPrincipal Financial Officer and Chief Accounting Officer$4,397,438
Renee L. WilmChief Legal Officer and Chief Administrative Officer$7,831,631

What changed and why

  • Derek Chang assumed the role of President and Chief Executive Officer on February 1, 2025.
  • $39.3MDerek Chang received total compensation of $39,339,990 for fiscal year 2025.
  • Formula 1 and MotoGP delivered record season attendance and revenue growth in 2025.
  • The CEO to median employee pay ratio was calculated as 559 to 1.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.