Disney’s leader earned $3 million in salary and a $21.8 million bonus, plus another $10 million in stock awards and $9.6 million in stock options, Disney disclosed in the company’s annual proxy filing with the Securities and Exchange Commission filing on Friday. The $47.5 million total includes the current market value of options and stock awards that won’t be paid out for some time and thus could lose value.
Iger has also opted to forgo another $5 million special bonus that he was due to receive under a previous employment contract that called for the payment if he remained at the helm of Disney through July 2, 2019.
“In response to shareholder feedback regarding total compensation, the Committee discussed with Mr. Iger, and Mr. Iger agreed to the elimination of that $5 million bonus,” Disney said in the filing.
Iger faced criticism last year over concerns about excessive CEO pay when he received a windfall of $65.6 million that included a one-time $35.3 million in stock awards after he agreed to renew his contract as CEO through the end of 2021 in connection with Disney’s acquisition of 21st Century Fox. Last year, Disney’s board of directors also cut $13.5 million from the bonus that Iger was due to receive after the closing of the Fox transaction in March.
Christine McCarthy, Disney’s chief financial officer, drew the second largest comp package among Disney corporate officers with a total of $14.9 million, up from $11.8 million in 2018.
Alan Braverman, Disney senior exec VP and general counsel, took home a total of $13.7 million in 2019, up from $10.4 million in 2018.
The proxy also disclosed that the company’s annual shareholders meeting will be held at 10 a.m. on March 11 at Duke Energy Center for the Performing Arts in Raleigh, N.C.