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Posted 07 February, 2024

AMERICAN TOWER CORP /MA/ appointed Steven O. Vondran as new CEO

NYSE:AMT appointed new Chief Executive Officer Steven O. Vondran in a 8-K filed on 07 February, 2024.


  On October 26, 2023, American Tower Corporation (the "Company") announced that the Company's Board of Directors (the "Board") appointed Steven O. Vondran as President and Chief Executive Officer of the Company, effective February 1, 2024.  

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Overview of AMERICAN TOWER CORP /MA/
Real Estate/Construction • Specialty REITs
American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S. and Canada, Asia-Pacific, Africa, Europe, Latin America, and Data Centers. The company was founded in 1995 and is headquartered in Boston, MA.
Market Cap
$96.7B
View Company Details
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


(c) On October 26, 2023, American Tower Corporation (the "Company") announced that the Company's Board of Directors (the "Board") appointed Steven O. Vondran as President and Chief Executive Officer of the Company, effective February 1, 2024.


The Compensation Committee (the "Committee") of the Board considered the compensation arrangements with Mr. Vondran in light of such promotion. Accordingly, on February 5, 2024, the Committee approved a new base salary and cash bonus incentive target for the year ending December 31, 2024 for Mr. Vondran, effective as of February 1, 2024. The information in the table below sets forth the determinations of the Committee:


Name and Title 2024 Base Salary 
2024 Target Cash Bonus Potential

(% of Base Salary / $)


Steven O. Vondran, President and Chief Executive Officer $ 1,000,000 200% / $2,000,000 


In determining annual cash bonus incentive payments at the end of the year, the Committee bases its decisions on a number of factors, including achievement of pre-established Company financial goals and individual goals and objectives. If the Company exceeds its financial goals or Mr. Vondran exceeds his individual goals, the annual cash bonus incentive could be subject to increase by the Committee, up to a maximum of 200% of Mr. Vondran's bonus target.


The Committee also approved an equity grant for Mr. Vondran, with an award value of $10 million pursuant to the Company's 2007 Equity Incentive Plan, as amended. The award value for Mr. Vondran is allocated 70% to performance-based restricted stock units ("PSUs") and 30% to restricted stock units ("RSUs"). Each PSU grant is based on a three-year performance period, with the performance goals set at the beginning of the performance period. Each RSU grant vests 1/3rd annually over three years, commencing one year from the date of grant. The number of shares subject to each of these awards will be determined using the closing price of the Company's common stock on March 11, 2024.


The Committee also determined that compensation for Thomas A. Bartlett, advisor to the Chief Executive Officer, will remain unchanged from the compensation approved for his previous role by the Committee on February 24, 2023. Mr. Bartlett will be eligible to earn a bonus for 2024, pro-rated for his length of service in 2024, and did not receive an equity grant for 2024.