Walt Disney Co. Chief Executive Officer Bob Iger received $100 million in stock awards after the company agreed to a $52.4 billion deal with Rupert Murdoch’s 21st Century Fox Inc.
Iger, 66, was granted 932,996 restricted shares, some of them tied to performance, Burbank, California-based Disney said Thursday in a regulatory filing. His base salary will increase 20 percent to $3 million beginning Jan. 1 and he’ll get an additional $500,000 bump when the deal is completed. His contract was extended by 2 1/2 years through 2021.
The CEO’s annual target compensation will increase 62 percent to $48.5 million, which includes a $20 million bonus and $25 million of stock grants. Iger’s awarded pay last year, which exceeded the target, was $37.7 million, according to the Bloomberg Pay Index.
Read more: Disney to Become ‘Walmart of Hollywood’ With Fox Studio Takeover
Fox CEO James Murdoch, son of the media mogul, could be offered a senior job at Disney after the deal is completed, Iger said. Murdoch’s contract doesn’t specify payouts he would get in connection with the deal. He’s entitled to $22 million of severance, health benefits and vesting of outstanding equity awards if he’s dismissed before June 30, there’s a change to his title or reporting responsibilities, or if he must move from New York, according to his employment agreement.
--With assistance from Jenn Zhao
To contact the reporters on this story: Alicia Ritcey in New York at aritcey@bloomberg.net, Anders Melin in New York at amelin3@bloomberg.net.
To contact the editors responsible for this story: Alicia Ritcey at aritcey@bloomberg.net, Peter Eichenbaum, Alan Goldstein
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