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Disney’s Bob Iger Gets 35.5% Raise in 2014 to Earn $46.5 Million

Walt Disney Co. chief Bob Iger earned $46.5 million in 2014 through a combination of salary, stock, options, pension and other forms of compensation.

The company released Iger’s earnings in a proxy statement filed with the Securities and Exchange Commission on Friday, saying Iger “has driven spectacular financial performance and created significant shareholder value.”

According to the filing, Iger was paid a salary of $2.5 million and earned $8.9 million in stock awards, $8.3 million in option awards, $22.8 million in non-equity incentives, an additional $2.8 million to his pension, and $1.1 million in other forms of compensation, including $391,411 for personal air travel and $614,582 for a security detail.

He earned $34.3 million in fiscal 2013.

The board attributed the bonus to the success of “Frozen,” launch of Marvel’s new franchise “Guardians of the Galaxy,” and integration of Lucasfilm’s “Star Wars” franchise with the launch of the seventh film in the series; the development of Shanghai Disney Resort; the acquisition of Maker Studios “to establish a leading presence in shortform online content;” the completion of Fantasyland and launch of MyMagic+ at Walt Disney World; the profitability achieved by Disney’s interactive group; and the leadership and development of executive talent.

See More: Disney CEO Bob Iger Talks ‘Star Wars,’ Overall Company Strategy at Variety Event

The Walt Disney Co. ended its fiscal 2014 year on a significant high note, reporting a record $48.8 billion in sales, up 8%, and a 22% improvement in net income of $7.5 billion, handily besting analysts’ expectations. Its fourth-quarter revenue came in at $12.38 billion, up 7%, while profits rose 8% to $1.49 billion during the period that ended Sept. 27.

For Disney’s fiscal 2012-2014 years, Iger’s total compensation grew 7.5%, while the company’s segment operating income rose 14.2%, and earnings per share were up 18.6% on a compounded annual basis.

Iger reupped in October to remain the head of Disney through June 30, 2018. As part of an incentive to remain with the company, Disney’s chairman and CEO could take home as much as $60 million in bonuses as part of performance-based awards to be determined by the company’s operating income.

And that looks likely, given that Disney is reviving the “Star Wars” franchise this year, with new movies to follow each year; has the “Avengers” sequel coming out this summer; while Pixar will launch two original films, “Inside Out” and “The Good Dinosaur,” which could launch new franchises.

“The board believes the growth in operating income represented by the targeted level will benefit shareholders through meaningful growth in shareholder value,” it said in the proxy statement, with compensation committee having “structured compensation so that over 90% of the CEO’s target compensation is contingent on the company’s financial results and the performance of Disney stock.”

Disney’s stock rose 38% through its 2014 fiscal year that wrapped in September.

Disney’s board will meet March 12 at the Palace of Fine Arts Theatre in San Francisco to elect 10 members. Those are Iger, Susan Arnold, Aylwin Lewis, John Chen, Monica Lozano, Jack Dorsey, Robert Matschullat, Sheryl Sandberg, Fred Langhammer and Orin Smith. The board met seven times in fiscal 2014, according to the proxy statement.

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