That compensation package included a base salary of $2 million, with the bulk made up of stock awards of $16.2 million and option awards of $16.5 million. She also received a bonus of $2.1 million.Witz’s total pay package was up from 2023, when Witz did not receive stock and options awards, and had a base salary of $1.75 million and a total pay package of $7.2 million.Witz and Scott Greenstein, president and chief content officer of SiriusXM, both received long-term equity incentives in February 2024 in relation to the renewal of their three-year employment contracts. The grants are intended to cover 2024 through 2026 and were intended to stand in place of regular ongoing annual grants during that time period.Greenstein had a total pay package of $21.8 million in 2024, above his pay package of $4.2 million in 2023. The change came as Greenstein also received sizable stock awards of $10.4 million and option awards of $8.25 million, on top of a base salary of $1.7 million, which is largely unchanged with prior years.Thomas D. Barry, executive vice president and chief financial officer, received a total pay package of $4.8 million, with a base salary of $845,765 in 2024.In September, the audio giant completed its spin-off from controlling stockholder Liberty Media. In connection with the spinoff, SiriusXM’s compensation committee decided that starting in starting in 2025, equity awards “would no longer include stock options, and our performance-based equity awards would be restructured to focus on free cash flow with a relative TSR modifier,” according to the company’s financial filing.For the full year 2024, paid subscribers at SiriusXM decreased by 296,000, an improvement over the full-year decrease of 445,000 self-pay subscribers in 2023. The company ended 2024 with approximately 33 million total subscribers. However, the company recently cautioned that its user numbers could be impacted by the imposition of tariffs on car sales. Advertising revenue was strong in 2024, thanks to growth in podcasting and programmatic sales, but Witz also said the company is evaluating any impact from a weakened U.S. economy on consumer confidence and inflation going forward.In December, the company had said it was targeting $200 million in cost savings as it exits 2025 and said it planned to move marketing and other resources away from “high-cost, high-churn audiences in streaming” to its “core revenue-generating segments,” namely its in-car subscribers.
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