Aamir Hussain
Liberty Latin AmericaAbout Aamir Hussain
Aamir Hussain (age 57) is Liberty Latin America’s Chief Technology and Product Officer (CTO) and Senior Vice President since April 2022, responsible for the Technology & Innovation team, product development, network performance, and customer experience across multiple markets . In 2024 his organization enabled 1 Gbps speeds to 97% of the network, built or upgraded ~400,000 homes passed, launched 5G in Costa Rica, Panama, and the Cayman Islands, completed Puerto Rico migration, and advanced AI in network and customer service . Company-level performance context: consolidated adjusted operating free cash flow (OFCF) was $897.9 million in 2024 and the pay program is weighted most to OFCF; LILA total shareholder return (TSR) since a 2019 baseline stood at 34.98 at year-end 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Verizon Communications | Senior Vice President & Chief Product Officer | Dec 2019–Apr 2022 | Product leadership role (Chief Product Officer) |
| Collinear Networks | Chief Executive Officer | Feb 2019–Dec 2019 | CEO (company leadership) |
| CenturyLink | EVP, Chief Technology, Information & Product Development Officer | Oct 2014–Nov 2018 | Technology, information, and product development leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ridge Lane Limited Partners | Venture Partner | Since Jul 2019 | Venture partner position |
Fixed Compensation
Multi-year summary compensation (reported amounts; ASC 718 fair values for equity):
| Year | Salary ($) | Stock Awards ($) | Option/SAR Awards ($) | Non-Equity Incentive (Bonus) ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2024 | 651,148 | 1,318,108 | 1,523,978 | 596,000 | 106,970 | 4,196,204 |
| 2023 | 637,365 | 1,592,081 | 1,469,917 | 252,500 | 114,014 | 4,065,878 |
| 2022 | 438,702 | 1,661,016 | 2,980,886 | 136,875 | 83,538 | 5,301,017 |
Perquisites and allowances (2024):
- Housing allowance: $84,000; Tax assistance: $16,490; Life insurance: $5,995; Misc: $485 .
- Base salary increased to $656,250 effective March 2024 (Panama 13th-month law applies) .
- Target annual cash performance award for 2024: $1,000,000 (same as other Officers) .
Performance Compensation
2024 annual bonus design and outcome for Hussain (same corporate metrics as other Officers):
| Metric | Weighting | Target | Actual | Payout Contribution |
|---|---|---|---|---|
| Consolidated Adjusted Revenue | 25% | $4,671m | $4,456m (adjusted) | 12.9% of target bonus |
| Consolidated Adjusted OFCF | 60% | $1,093m | $898m (adjusted) | 40.4% of target bonus |
| Governance – Code of Conduct Training | 3% (subset of 15%) | ≥90% completion | >90% | 3.0% of target bonus |
| Governance – Business Process Controls | 6% (subset) | No material weaknesses; ≤1 significant deficiency | Not zero MWs; ≤1 SD achieved | 1.5% of target bonus |
| Governance – GITCs | 6% (subset) | No user access MWs in onboarding markets; none in execution markets | Partial achievement per interpolation | 2.8% of target bonus |
| Total Percentage of Target Achieved | — | — | — | 60.6% (LLA-Corp cohort) |
| Final Bonus Paid (Hussain) | — | $1,000,000 | — | $596,000 (after 1% committee discretion reduction) |
2024 long-term equity awards (granted March 12, 2024; 60% RSUs / 40% SARs; 1/3 vesting each March 15 of 2025/2026/2027):
| Instrument | Class | Grant Size (#) | Base/Exercise Price | Vesting |
|---|---|---|---|---|
| RSUs | LILA | 70,866 | n/a | 1/3 on 3/15/25, 3/15/26, 3/15/27 |
| RSUs | LILAK | 141,732 | n/a | 1/3 on 3/15/25, 3/15/26, 3/15/27 |
| SARs | LILA | 134,128 | $6.16 (3/12/2024 close) | 1/3 on 3/15/25, 3/15/26, 3/15/27; 10-year term |
| SARs | LILAK | 268,256 | $6.22 (3/12/2024 close) | 1/3 on 3/15/25, 3/15/26, 3/15/27; 10-year term |
Prior awards of performance SARs (CTO Phoenix Award) granted April 18, 2022:
- LILA PSARs at $10.75; LILAK PSARs at $10.70; fully vested; expiring 4/19/2032 .
Clawback: Executive compensation recoupment policy effective Oct 2, 2023 per SEC/Nasdaq rules; no recoveries to date .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (as of Feb 28, 2025) | LILA: 153,276; LILAK: 267,528; percent of class: less than 1% each |
| RSUs scheduled to settle within 60 days (as of Feb 28, 2025) | LILA: 59,570; LILAK: 119,142 |
| In-the-money SARs exercisable within 60 days (as of Feb 28, 2025) | LILA: 4,028; LILAK: 6,529 |
| Options/SARs outstanding (selected) | LILA: 100,000 at $10.75 exp 4/19/2032; LILAK: 200,000 at $10.70 exp 4/19/2032 |
| Stock Ownership Guidelines | CTO must hold 4× base salary; new executives must comply within 4 years of becoming subject (for Hussain, by April 2026) |
| Hedging/Pledging | Short sales prohibited; hedging requires pre-clearance; no Hussain pledges disclosed |
Employment Terms
| Term | Provision |
|---|---|
| Employment agreement | Effective April 18, 2022; indefinite term until notice |
| Base salary | Initial $625,000; increased to $656,250 in 2024; 2025 set at $675,938 (Panama) |
| Target annual bonus | $1,000,000 (2022–2025), subject to committee discretion and performance |
| Target annual equity | $2,250,000 (2022–2025), mix set by committee |
| Relocation/expatriate benefits | Housing allowance $7,000/month for 5 years; tuition support $20,000 initial + $18,000 per child/year up to 5 years; family medical; attorney’s fees up to $20,000; 50% reimbursement of relocation costs if resign/terminated for cause between 4/19/2023–4/17/2025 |
| Severance (no CIC) | If terminated without cause or for disability/good reason: 1× base salary in installments over 12 months; pro-rata annual bonus based on actual performance; up to 12 months health benefits (COBRA at employee rates) |
| Change-in-control (CIC) | If terminated within 12 months post-CIC: severance and accelerated vesting per plan; Hussain estimated totals at 12/31/2024: $3,731,735 (employment terminated) vs $2,447,984 (employment continues), including severance $1,252,250; RSUs $2,388,968; SARs $59,016; benefits $31,501 |
| Restrictive covenants | Non-solicitation, non-interference, non-competition, confidentiality during employment and up to 1 year post-termination (circumstance-dependent) |
| Tax gross-ups | Waived any rights to 280G tax gross-ups; severance limited to mitigate excise tax impact |
| Clawback | Nasdaq-compliant recoupment (effective Oct 2, 2023) |
Investment Implications
- Alignment and upside participation: Significant ongoing RSU and SAR grants with three-year vesting tie Hussain’s pay to share performance and operational outcomes; CTO guideline of 4× salary with an April 2026 compliance deadline supports “skin-in-the-game” over the medium term .
- Retention and vesting overhang: RSU/SAR vesting across 2025–2027 creates predictable supply; near-term exercisable in-the-money SARs are modest (LILA 4,028; LILAK 6,529), suggesting limited immediate selling pressure from options .
- Cash vs performance mix: 2024 bonus outcome (60.6% of target; $596k) reflects under-target consolidated revenue/OFCF, tempered by governance improvements; equity remains the largest component of compensation, with long-duration SARs and RSUs incentivizing network/product milestones and OFCF growth delivery .
- Contract risk and CIC economics: Standard Officer severance (1× salary; pro-rata bonus) and meaningful CIC acceleration (~$3.73m as of 12/31/2024 if terminated) mitigate transition risk but create change-of-control dilution scenarios; no tax gross-ups reduce shareholder-unfriendly optics .
- Governance: Hedging requires pre-clearance, short sales prohibited, clawback in place, and no pledging disclosed for Hussain—favorable alignment signals for investors tracking insider behavior .