Chief Government Robert Iger noticed the worth of his whole compensation final 12 months surge 81% to $65.6 million, the corporate mentioned in a securities submitting Friday.
The largest driver of the rise was $35.four million in inventory awards, a portion of which was because of the extension of his contract by December 2021. Mr. Iger’s wage for the 12 months resulted in September rose to $2.9 million from $2.5 million.
The worth of all of Mr. Iger’s stock-award holdings, assuming that the very best stage of efficiency circumstances are achieved and the deal for 21st Century Fox Inc.’s leisure belongings closes, can be $149.6 million for 2018, based on the submitting with the Securities and Alternate Fee. Following shareholder pushback, Disney’s board final month raised the targets Mr. Iger must clear to gather his efficiency bonus. Disney shareholders had rejected, in a nonbinding advisory vote, the compensation plan for Mr. Iger and different executives.
As compared, Mr. Iger’s whole pay a 12 months earlier was valued at $36.three million, which included $9 million in inventory awards.
Disney additionally mentioned it plans to scale back its board to 9 members from the present 11 when the annual shareholder assembly happens March 7.
Derica W. Rice, a longtime Eli Lilly & Co. chief monetary officer who serves as govt vice chairman of CVS Well being Corp. and president of CVS Caremark, has been nominated to hitch the board. In the meantime, John S. Chen, Aylwin B. Lewis and Fred H. Langhammer would go away the board based mostly on Disney’s insurance policies that administrators serve for as much as 15 years and retire by age 74.
—Josh Beckerman contributed to this text.
Write to Maria Armental at [email protected]