Disney SEC filing reveals Bob Iger's base salary and his return to the board of directors

Nov 21, 2022 in "The Walt Disney Company"

Posted: Monday November 21, 2022 4:52pm ET by WDWMAGIC Staff

The Walt Disney Company has filed an employment agreement with the SEC for the appointment of Bob Iger as its new CEO.

Employment. Upon the terms and subject to the conditions of this Agreement, the Company hereby employs Executive, and Executive hereby accepts employment by the Company, for the period commencing as of November 20, 2022 (the “Commencement Date”), and ending on December 31, 2024 (or such earlier date as shall be determined pursuant to Paragraph 5). The period during which Executive is employed pursuant to this Agreement shall be referred to as the “Employment Period.”

Iger will receive a $ 1 million annual base salary and a long-term incentive bonus with a target value of $25 million for each year of the agreement, which currently runs through December 31, 2024.

Base Salary. Effective as of the Commencement Date, Executive shall receive an annual base salary of $1,000,000. The amount of annual base salary payable under this Paragraph 3(a) shall be reduced, however, to the extent Executive elects in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations and interpretations thereunder (“Section 409A”), to defer such salary under the terms of any deferred compensation or savings plan or arrangement maintained or established by or on behalf of the Company or any of its subsidiaries. Executive’s annual base salary payable hereunder, without reduction for any amounts deferred as described above, is referred to herein as the “Base Salary.” The Company shall pay Executive the portion of Base Salary not deferred at the election of Executive in accordance with its generally applicable policies for senior executives (currently paid on a weekly basis), but not less frequently than in equal monthly installments

(b)Annual Incentive Bonus. Executive shall be given the opportunity to earn an annual discretionary incentive bonus in accordance with the annual bonus plan generally applicable to the Company’s executive officers, as the same may be in effect from time to time (the “Annual Plan”). Executive’s target annual incentive bonus opportunity under the Annual Plan during each full fiscal year during the term hereof shall be one hundred percent (100%) of Executive’s Base Salary as in effect at the end of such fiscal year. The actual amount payable to Executive as an annual bonus under the Annual Plan shall be dependent upon the achievement of performance objectives established in accordance with the Annual Plan by the Board of Directors of the Company or the committee of the Board responsible for administering such Annual Plan (the “Compensation Committee”), which shall be substantially similar to the objectives established under the Annual Plan for other senior executive officers of the Company. The preceding sentence shall not limit any power or discretion of the Board or the

The SEC filing also indicates that Bob Iger will return to the board of directors of the Walt Disney Company.

Position and Duties. During the Employment Period, Executive shall serve as Chief Executive Officer of the Company and in such other positions with the Company and its subsidiaries and affiliates consistent with Executive’s position as the Board of Directors (the “Board”) shall reasonably assign Executive from time to time. The Executive shall report to the Board. In connection with his appointment as Chief Executive Officer, the Board shall appoint the Executive as a member of the Board. During the Employment Period, the Company shall also nominate Executive for re-election as a member of the Board at the expiration of each term of office, and Executive shall serve as a member of the Board for each period for which he is so elected. During the Employment Period, Executive shall devote all Executive’s business time on a full-time and exclusive basis to the services required hereunder, and shall perform such services in a manner consonant with the duties of Executive’s position. Executive shall be subject to the terms and conditions of any applicable policy of the Company (including, without limitation, “The Walt Disney Company and Associated Companies Standards of Business Conduct” booklet and the Employee Policy Manual), as reasonably made available and as interpreted from time to time by the Company, provided that, subject to the provisions of Paragraph 7(a), nothing herein shall preclude Executive from (i) engaging in charitable activities and community affairs, and (ii) managing Executive’s personal investments and affairs, so long as the activities listed in subclauses (i)-(ii) do not materially interfere, individually or in the aggregate, with the proper performance of Executive’s duties and responsibilities hereunder.

You can read the full SEC filing here.

The Walt Disney Company announced late Sunday night that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately.


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Smiley/OCDJan 19, 2024

At least he doesn’t star in his own commercials the way Tom Carvel did…Cookie Puss, Fudgie the Whale…

SirwalterraleighJan 19, 2024

Buffett still has one of the best stories ever…he liked Dairy Queen so much he bought it 😂

LilofanJan 19, 2024

That kind of diet is right up 93 years young Warren Buffett lifestyle alley of eating fast food and dairy queen on a regular basis. His take on that is he eats like a 6 year old kid which he says has the lowest death rates.

SirwalterraleighJan 19, 2024

Oh…Nelly is getting surly… He better not stop by a park and get a Mickey bar…Bob left standing orders to have a few made with antifreeze subbed for the milk

SirwalterraleighJan 19, 2024

She said some crazy @$$ bleep not too long ago… Elon gets away with being a kook because he happens to be like the richest dude…ever…

TraumaJan 19, 2024

John park hopperJan 19, 2024

Come on Bob 595---- let's hope you can hit 600 in 2024 and I'm not talking baseball.

LilofanJan 18, 2024

Execs are very good at reinventing themselves and many critics have the attention span of less than a goldfish - 8 seconds.

MR.DisJan 18, 2024

I was not talking about personal wealth, but that her status as an executive has been tarnished. Not going into rumors and innuendo.

LilofanJan 18, 2024

She sold off her Meta stock in 2022 - $1.8 billion. She's resilient especially after her first husband an accomplished exec of Survey Monkey died while falling off a treadmill in a hotel resort gym during a family vacation.

AylaJan 18, 2024

😂 She's worth 2+ billion dollars. She's fine.

MR.DisJan 18, 2024

Just saw where Sheryl Sandberg is leaving META. At one point she was highly thought to be in the running to take over Disney, but her fortunes have changed drastically.

MR.DisJan 18, 2024

One thing that should be demanded by who ever is picked to take over--Bob Iger needs to completely leave the premises. No honorary office, not even a small cubicle. All privileges gone. If it satisfies his ego, make a statute in his honor--say just outside one of the restrooms in one of the parks.

SirwalterraleighJan 18, 2024

Notice how that corresponds with his ego never wanting to leave either The guy “retired” and never even moved out of his office. A comp: Eisner turned in his keys, his office and his main gate a year early