How Cavanagh was paid
$11.4M 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.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Brendan T. CavanaghPresident and Chief Executive Officer | $955,000 | $8,640,313 | $1,733,086 | $30,316 | $11,358,715 |
| Marc MontagnerExecutive Vice President and Chief Financial Officer | $665,000 | $3,358,239 | $679,298 | $23,831 | $4,726,368 |
| Mark R. CiarfellaExecutive Vice President - U.S. Operations | $560,000 | $2,630,314 | $565,040 | $29,440 | $3,784,794 |
| Richard M. CaneExecutive Vice President and President - International | $560,000 | $2,630,314 | $579,040 | $21,340 | $3,790,694 |
| Joshua M. KoenigExecutive Vice President, Chief Administrative Officer & General Counsel | $560,000 | $2,630,314 | $593,040 | $29,747 | $3,813,101 |
What changed and why
- $11.4MCEO Brendan T. Cavanagh total compensation increased to $11,358,715 in 2025.
- 60%Long-term equity awards for the CEO consisted of 60% performance RSUs and 40% time-based RSUs.
- $1.9BAdjusted EBITDA reached $1.9 billion for the fiscal year 2025.
- $2.3BThe company deployed over $2.3 billion of capital through portfolio expansion, dividends, and share repurchases.
- The Millicom International transaction in Central America expanded the tower portfolio.
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.