https://www.bizjournals.com/charlotte/news/2025/04/02/commscope-ceo-compensation-pay-manufacturing-tech.html
Local CEO posts 63% increase in total compensation last year
CommScope Holding Co. Inc. (NASDAQ: COMM) CEO Charles Treadway landed a pay package in 2024 much higher than what he received the previous year, according to a recent U.S. Securities and Exchange Commission filing.
Treadway earned total compensation of just over $20 million last year, SEC filings show. That's 63% higher than the $12.3 million compensation package he saw in 2023.
Most of Treadway's 2024 pay came from non-equity incentive plan compensation, according to SEC filings. That category accounted for $14.7 million of his total compensation. That's up from the $195,000 he received in non-equity incentive plan compensation in 2023.
Treadway received stock awards totaling just under $4 million in 2024. That figure fell from the $10.7 million in stock awards Treadway earned in 2023. Treadway's base salary last year was $1.3 million — the same as 2023.
Treadway ranked No. 11 on the Charlotte Business Journal's most recent list of the highest-paid CEOs of local public companies, which used 2023 compensation figures. His 2024 pay package would have ranked sixth on last year's list.
CommScope has over 20,000 employees across more than 100 countries globally. The company estimated in its proxy statement that its median employee's compensation was $15,328 in 2024. That puts the company's CEO pay ratio at 1,308 to 1.
The Claremont-based manufacturer of network infrastructure products stated that its median U.S. employee made $115,333 in 2024. That puts its CEO pay ratio compared to U.S. workers at 174 to 1.
"Most of our manufacturing employees are located in lower-cost geographies such as Mexico, China, India and the Czech Republic and are compensated at the market rate based on their geographic location and their job type," CommScope wrote in its proxy statement filed with the SEC on March 24. "This drives a higher pay ratio between our median employee and our Chief Executive Officer when compared to companies with primarily United States operations or those businesses that are not as labor intensive."
Treadway, who took over as CEO in 2020, has implemented his CommScope NEXT portfolio review plan in recent years. The company has made several major moves to abide by the plan.
CommScope last year announced it was selling two of its wireless networking businesses to Amphenol Corp. for $2.1 billion. The company also sold its Hickory headquarters building in 2023 and shifted its operations base to its Claremont facilities.
Treadway called 2024 a "transitional year" with a "challenging start" in CommScope's full-year and fourth-quarter earnings release in February. However, CommScope finished 2024 strong by beating earnings estimates for the fourth quarter. CommScope reported adjusted net income of $48.3 million, or $0.18 per share, for the quarter. The company improved from a loss of $73.1 million, or $0.34 per share, it reported in 2023's fourth quarter.
CommScope reported net sales of $1.17 billion for the fourth quarter, up 26.6% year over year.
“For the full year 2024, Core CommScope reported net sales of $4.21 billion, declining 8% from the prior year, but delivered adjusted EBITDA of $756 million, which remained flat year over year," CommScope Chief Financial Officer Kyle Lorentzen said in the company's February earnings release. "With improvement throughout the year, we are well positioned as we move into 2025."