David McAtee II, the longstanding general counsel of AT&T Inc., has observed another consecutive increase in his pay package. According to Bloomberg, McAtee earned nearly $12.4 million in 2024’s total compensation, an approximately 10% increase from the previous year.
McAtee’s tenure as AT&T’s head in-house counsel spans almost a decade. He has navigated a broad spectrum of issues, including the implications of the company’s disclosed payments to former President Donald Trump’s ex-personal lawyer Michael Cohen, and the problematic $85 billion acquisition of Time Warner Inc., which ultimately fell through.
McAtee’s payment last year primarily included $7 million in stock awards and over $4.4 million in cash, from which $1.3 million comprised his annual base salary. Currently, McAtee owns AT&T stock worth $13.4 million as per Bloomberg data. One must also note that a part of McAtee’s compensation package in previous years has included allowances for medical treatments related to his fight against cancer.
McAtee’s earnings in 2024 surpassed the $10 million that Verizon Communications Inc. paid its former general counsel, Craig Silliman. Silliman currently heads the global services business at the New York-based company. In stark comparison, McAtee’s impressive compensation stood at an all-time high of $18.6 million in 2020.
As one of the largest telecommunications companies, AT<T is involved in many legal matters and initiatives, including a recent class action lawsuit related to a data breach affecting 73 million accounts and its attempts in recent years to sell off its media assets, the latest of which is the sale of Sky Mexico to Grupo Televisa SAB.