Iger’s pay included $2.5 million in salary, $9.53 million in stock awards, $7.75 million in option awards and a bonus of $16.5 million, according a regulatory filing today. A change in the value of his pension plan and other compensation added almost $4 million more.
The increase came in a fiscal year when shares of Burbank, California-based Disney returned 76 percent including dividends, compared with 30 percent for the S&P 500 index. Iger, 61, also took on the added role of chairman. Walt Disney’s profit rose 18 percent to $5.68 billion in the year ended Sept. 30.
Disney, the world’s largest entertainment company, will hold its annual meeting March 6 in Phoenix.
At last year’s meeting 57 percent of shareholders supported the company’s executive pay plan, down from 77 percent the year before. In today’s filing, Disney said the vote “fell below our expectations.”
The company reconfigured its bonus terms after management and the chairwoman of the compensation committee met with the largest shareholders, according to the filing.
While the previous plan allowed management to collect 100 percent of their bonuses even if shareholder returns were weak, the new plan bases awards equally on stock performance and earnings, according to the filing. The company said 92 percent of Iger’s targeted compensation is performance based.
Connecticut Retirement Plans & Trust Funds is proposing at the annual meeting that investors vote to split the chairman and CEO roles in the future, according to today’s filing. Disney’s board opposes that plan.
Disney fell 0.1 percent to $52.34 at the close in New York. It has gained 5.1 percent this year.
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