Disney CEO's 2009 pay drops 58 percent to $21.6M

BURBANK, Calif. – Robert Iger, Walt Disney Co.'s arch executive, captivated a 58 percent advantage cut in 2009, brought on by the ball company's struggles during the affliction recession in added than 70 years.

The Associated Press admired Iger's pay amalgamation for the company's budgetary 2009 at $21.6 million, based on a breakdown provided in a Wednesday filing with the Securities and Exchange Commission. That was bottomward from $51.1 actor in budgetary 2008.

Iger's wallet took an alike bigger hit during the budgetary year catastrophe Oct. 3 than Disney's shareholders. The Burbank company's banal fell by 15 percent during budgetary 2009, although the shares accept aback rallied about all the way aback to area they were at the end of budgetary 2008. The banal added 12 cents to accomplishment Wednesday at $32.43.

Disney's banking achievement suffered in budgetary 2009 as the Great Recession coiled appearance at the company's action parks and bargain announcement on its television networks, which accommodate ABC and ESPN. Its 2009 acquirement fell 4 percent to $36.1 billion, while balance sagged 25 percent to $3.3 billion.

Nearly bisected of Iger's 2009 advantage came in the anatomy of banal awards advised to accord him an allurement to addition the company's approaching performance.

Disney admired the banal incentives at $9.5 actor at the time they were given, but they could be account abundant added or beneath depending on how the company's banal fares. In budgetary 2008, Iger's banal awards were admired at $34.5 million.

The ample gap amid Iger's stock-based advantage in the accomplished two years accounted for the aggregate of his advantage abatement in budgetary 2009.

Iger partially account his bargain 2009 pay by accomplishment $9.7 actor from appliance 457,289 banal options that he accumulated in antecedent years.

The Associated Press ethics controlling advantage bales based salary, bonuses, perquisites, above-market allotment on deferred advantage and the estimated amount of banal options and awards accepted during the year. The calculations frequently alter from the totals listed by the advertisement companies in the arbitrary advantage table of proxy statements because those abstracts accommodate accounting accuse from the antecedent budgetary year.

Disney's proxy pegs Iger's 2009 advantage at $29 million.

Besides banal awards, best of Iger's actual pay consisted of a $2.04 actor bacon and $9.3 actor in performance-based bonuses. Both those amounts were bottomward from budgetary 2008 back Iger pocketed a $2 actor bacon and $13.9 actor in performance-based bonuses.

Iger got allowances accretion $741,601 in budgetary 2009, a abatement of about $32,000 from the antecedent year. Security costs of $589,102 represented the better allotment of the 2009 perks, followed by a $132,374 bill for Iger's claimed air travel.

Disney could accept paid Iger a 2009 benefit of as abundant as $10 million, but the aggregation bound the payout to reflect the boxy year, according to the proxy.

The lath still accepted Iger in the proxy for his "rapid acknowledgment to awfully arduous bread-and-butter conditions" and acclaimed his administration of negotiations that culminated in Disney's August acceding to buy Marvel Ball Inc. for $4 billion.

Iger's accepted arrangement with Disney runs through January 2013.

 

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