Disney Extends CEO Bob Chapek’s Contract Three Years, Includes $20 Million Annual Bonus Incentive

In a major show of confidence, The Walt Disney Company’s board of directors June 28 extended CEO Bob Chapek’s term of employment agreement for three years, beginning from July 1.

The employment agreement will be amended to provide that Chapek will be granted a long-term incentive award having a target value of not less than $20 million annually. The proportion of his long-term incentive award comprised of performance-based restricted stock units will be increased to 60%.

Disney said the largely stock-based bonus incentives do not guarantee Chapek any minimum amount of compensation. The actual amounts payable to the former home entertainment executive 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 Disney’s stock.

Indeed, 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 media giant’s stock.

The new employment contract does not alter Chapek’s existing employment agreement, including his $2.5 million base salary.

Since being named CEO in February 2020, Chapek has weathered a pandemic, political issues in Florida, mixed up the theatrical window and help broaden the reach of the Disney+ subscription streaming service globally, among other accomplishments.

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One thought on “Disney Extends CEO Bob Chapek’s Contract Three Years, Includes $20 Million Annual Bonus Incentive”

  1. DISGUSTING PIECE OF FILTH, DISNEY AND ALL THEIR LEADERS, including this creep. They are GROOMERS and pedophiles.

    I dropped DISNEY AND NETFLIX and I hope others do as well.

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