For a stress-free Disney or Universal Studios vacation, let the FREE expert planners at Royal Carriage Vacations take care of every detail including dining reservations, applying discounts, and onboard cruise credit.
With Disney CEO Bob Chapek’s contract extension comes a pay raise. Check out how big this raise is and tell us what you think.
Contract Extended
When Bob Iger retired in February 2020, Bob Chapek took his place as CEO of The Walt Disney Company. He took charge right before the parks closed in March of 2020 due to the pandemic. Chapek has been in charge for over two years, overseeing the parks, entertainment, and more.
Over the past year, in particular, many Disney fans have wondered if Chapek’s days are numbered at the Walt Disney Company. Last week, the Disney Board voted unanimously to extend Bob Chapek’s contract for three more years. Check out the full details and Chapek’s statement HERE.
For the next three years (until July 1, 2025), Bob Chapek will remain Disney’s CEO. Today, we learned that this new extension to his contract also came with a sizeable bonus.
New Bonus
According to an SEC filing, we see new details of Chapek’s earnings under this newly extended contract. Chapek had an original base salary of $2.5 million per year. This salary remains the same. A rather large change did come for his annual bonus. Prior to the contract extension, Chapek could earn a $15 million bonus annually based upon a long-term incentive award.
This bonus has now been raised from $15 million annually to $20 million. The SEC filing states, “The actual amounts payable to Mr. Chapek in respect of such opportunities will be determined based on the extent to which any performance conditions and/or service conditions applicable to such awards are satisfied and on the value of the Company’s stock.”
“Accordingly, Mr. Chapek may receive compensation in respect of any such award that is greater or less than the stated target value, depending on whether, and to what extent, the applicable performance and other conditions are satisfied and on the value of the Company’s stock.”
This bonus has now been raised from $15 million annually to $20 million annually.
What do you think about this increase per annual bonus? Do you feel that this is a bit much or just right? Share your thoughts with us on our Facebook Page.
Using a Travel Agent can help you navigate the ins and outs of planning! I am here to help! Please fill out this form and put my name (DONNA) in the Special Request box.
Share the love!
Joyce L Lambert
Thursday 7th of July 2022
Thank you John Rende for bringing up Disney's losses. Went on line and found this: "Disney reported an operating loss of $887 million related to its streaming services in the quarter — up from a loss of $290 million a year ago. For the first six months of Disney's fiscal year, it has lost about $1.5 billion" This was dated May11, 2022. What is with this board of directors? They obviously do not have money in Disney stock nor do they care about their stockholders!!
Deb c
Thursday 7th of July 2022
@John Rende…Disney is off our entertainment list. Caput. Done. No more of my money will fund this fiasco.
Deb c
Thursday 7th of July 2022
@Jeff…first, I love your intro. I could not have said it better myself!
jeff
Wednesday 6th of July 2022
Hello Ladies and Gentlemen, Boys and Girls, This just goes to show us all what this board is about. Chapek allows some if not all of these board members to spew their propaganda at all of us through Disney in turn for keeping his position. I doubt if any of the members actually own much Disney stock or it would be a major concern to them that it is tanking. Point I am trying to make is that they are all in this together sharing the profits, bonuses, perks etc. that are still being made. By the time Disney is at a point where it is no longer a profitable business the board and their families will all be millionaires. They will just move on. Someone else will have to come in to clean up the mess. We can only hope that they move on sooner than later. At the moment any dissatisfaction being voiced by the paying customer base looks to be falling on deaf ears. And please keep in mind to vote smart in November to keep Desantis in charge of Florida. Disney World at least may get a wake-up call to get their act together.
Deborah Mrozowski
Wednesday 6th of July 2022
This is why everything at Disney is so expensive! This is inexcusable!