Bob Iger recently returned as the CEO of the Walt Disney Company and many of us have wondered how much that cost the company. Well thanks to The Hollywood Reporter we now have an idea of just how much that amount is and we also know he’s going to be appointed to the board as part of his contract.
THR found the filing with the Securities and Exchange Commission where it says that Bob Iger will receive a compensation packaged valued up to $27 million per year for two years. So, if he hits his targets he could walk away with $54 million. Of course this number does depend on his performance, and could theoretically go higher or lower.
His annual salary will be 1/3 of what it was when he was CEO the first time, coming in at $1 million a year with a $1 million annual target bonus. The bulk of his potential pay day is the “long-term incentive” of which 60% is tied to performance-based RSUs (Restricted Stock Units.) The RSUs will be paid out if Iger is with the company, when his term is over, on the last day of 2024.
By doing this the Walt Disney Board ties Iger’s reward to his performance which is mainly in stock. He only does well when the stock does well, the investors to well and the board does well. Because it has been about the investors and stock prices the whole time. It was never about consumers and fans. The only thing Disney wants from consumers is more money. They will find ways to squeeze more money out of their customer base to increase their profits and stock.
Got to get as much as they can out of the pay pigs. $27 million a year has to come from someone’s pocket and it surely isn’t going to be Disney’s.
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