The Stamford-based company’s board has approved a new deal for CEO Christopher L. Winfrey that extends his contract through December 2028.
The board of Stamford-based Charter Communications has approved a new employment agreement for President and CEO Christopher L. Winfrey, according to a Dec. 3 regulatory filing.
The amended contract, effective Dec. 1, 2025, sets Winfrey’s annual base salary at at least $2.5 million and provides a target annual bonus equal to 300% of his salary. The agreement runs through December 2028, with an option for renewal.
Beginning in 2027, Winfrey is scheduled to receive annual stock option awards valued at a minimum of $23 million, the filing said. Charter will also issue a one-time $6 million “top-up” stock option award in early 2026 to align his equity compensation with the new structure.
The contract maintains several benefits, including participation in employee benefit plans, reimbursement of business expenses and use of company aircraft for commuting and up to 125 hours of personal travel per year.
The agreement outlines severance provisions if Winfrey is terminated without cause or leaves for “good reason.” Those include a cash payment equal to 2.5 times his base salary and target bonus, a prorated annual bonus, up to 30 months of COBRA health coverage, outplacement services and accelerated vesting of certain stock options.
Equity grants tied to Cox deal
In a related move, Charter’s board also approved a one-time contingent equity award for all executive vice presidents, including the company’s named executive officers.
Those grants will take effect only if Charter closes a previously announced merger with Cox Enterprises.
Each award will equal 1.5 times an executive’s annual long-term incentive target and will be split evenly between stock options and restricted stock units.
The compensation moves follow an October report in The Wall Street Journal that said Charter plans to eliminate about 1,200 corporate and back-office roles — including at its Stamford headquarters — as part of its integration with Cox. Front-line sales and customer-service jobs were not expected to be affected, the Journal reported, citing a person familiar with the matter.
The layoffs represent just over 1% of Charter’s approximately 95,000 employees and are aimed at streamlining operations ahead of the companies’ proposed $21.9 billion merger, which is expected to close in mid-2026 pending regulatory approval.
Once finalized, the combined company will operate under the Cox Communications name and be headquartered in Stamford, creating what would become the largest cable and broadband provider in the U.S.
