Brian Roberts, chairman and CEO of Comcast, has offered $20.4 million price of shares within the media and cable big, a small portion of his holdings.

The 469,515 shares Roberts offered on Nov. 26 symbolize lower than 2% of his Comcast inventory possession. The Class A shares offered have been restricted inventory items and choices he acquired as a part of his compensation in January and March of this 12 months, in line with an SEC submitting Tuesday.

As of February 2024, Roberts beneficially owned 31.3 million of Comcast’s Class A shares, lower than 1% of its excellent shares. He additionally owns 100% of Comcast’s Class B frequent inventory, representing 33.3% of the mixed voting energy of the corporate’s two courses of voting frequent inventory.

In 2023, Roberts had a compensation package deal price $35.47 million, up 11% from the 12 months prior. That included a wage of $2.5 million, inventory awards price $15 million, inventory choices price $9.2 million and a $8.55 million money incentive bonus.

Comcast, father or mother firm of NBCUniversal, introduced plans final week to spin off the majority of its cable portfolio.

“Whenever you take a look at our property, gifted administration crew and stability sheet energy, we’re in a position to set these companies up for future development,” Roberts mentioned in asserting the cable spinoff plans. “With important monetary sources from day one, SpinCo will likely be ideally positioned for achievement and extremely engaging to buyers, content material creators, distributors and potential companions.”

Roberts will personal the identical financial and voting pursuits in SpinCo as he does at the moment in Comcast, “although he is not going to serve on the SpinCo board or administration crew,” in line with a memo from Comcast president Mike Cavanagh to NBCU workers. 

Roberts, 65, has been Comcast’s chairman since 2004 and CEO since 2002. From 1990-2022, he served as president of Comcast, which was based by his father, Ralph Roberts.