Walt Disney CEO Robert Iger earned $18.5 million in base pay and bonus for fiscal 2011, up 13.6% from the year before, the company said in its annual proxy filling with the Securities and Exchange Commission Friday. Including equity awards worth $12.9 million, his total compensation rose to $31.4 million.
That compares with a total of $28 million the previous year, which included $11.6 million in equity awards.
Disney said in the fiilng that executive compensation was based on “the exceptional growth the Company achieved in the face of a persistent challenging economic environment.”
It noted that the biggest chunk of Iger’s compensation came in performance-based awards. And it said the figure given for equity compensation reflects the so-called fair value on the date of the award. That means the actual amount an exec takes home can vary depending on how Disney stock does and other metrics.
Iger will assume the title of chairman in March and has announced plans to step down as CEO in 2015 but remain executive chairman for another year.
Disney’s general counsel Alan Braverman was the Mouse’s next highest paid exec with total annual compensation of $21.6 million, well up from $7 million the year before as his bonus jumped by nearly $6 million and his equity awards by nearly about $7 million.
The top five highest paid execs, including Kevin Mayer, exec VP for corporate strategy and business development; chief financial officer Jay Rasulo; and head of human resources Jayne Parker together received total compensation $55 million.
Disney said it will hold its annual meeting of shareholders on March 31 in Kansas City, Missouri.