According to a filing with the SEC, Iger will have a $1 million annual salary and an annual bonus that could earn him up to another $1 million.
As part of the company’s long-term equity-based incentive plans, Iger is also eligible for a yearly award with a target value of $25 million. The award would be composed 60% of restricted stock units and 40% in the form of stock options.
“Depending on performance, the actual amount payable as an annual bonus to Mr. Iger may be less than, greater than or equal to the stated target bonus (and could be zero),” the filing notes.
In 2019, his last full year as CEO of Disney, Iger received total compensation of $47.5 million, including a $3 million salary, $10.1 million in stock awards, $9.6 million in option awards and $21 million in non-equity incentive plan compensation.
Iger did even better in fiscal 2018, when his total compensation was $165.6 million.
The filing notes that former CEO Bob Chapek was terminated without cause. The filing did not specify how much he received, except to say the separation benefits would be made in accordance with the terms of his employment agreement.
In fiscal 2021, the last year Disney reported, Chapek received $32.5 million as CEO, including a $2.4 million salary, $10.2 million in stock awards, $3.8 million in option awards and $14.3 million in no-equity incentive plan compensation. ■
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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