Disney meet expected upbeat due to ’92 stock climb

Next month’s annual meeting for Walt Disney Co. will be in its usual good humor, laden with a touch of Magic Kingdom spirit.

For good reason.

Disney’s stock climbed 50% during 1992. To make the shares more available to investors, the stock was split four-for-one last February. The only loser in the deal, according to Disney’s recent proxy, was the Bass Family. Last year, the Texas billionaires owned a hefty 25 million shares, or 18.46% of Disney. Post-split, that stake has since plunged to just 6.28%.

One possible point of tension could be compensation, a typical sore spot for shareholders. For his labors, Disney chairman Michael Eisner could pocket $ 200 million for 1992, having cashed in his tremendous lode of stock options before year-end to avoid a possible tax bite this year (Daily Variety, Dec. 2).

Also cashing in on stock options before year-end were Richard Nunis, chairman of Walt Disney Attractions, who made $ 8.4 million, and Disney executive VP for strategic planning and development, Lawrence Murphy, who received $ 1 million.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading