Bob Chapek took the helm of the entertainment giant just as the pandemic was taking hold.
Photo: KATHERINE TAYLOR/REUTERS
Walt Disney Co. DIS 0.41% paid company chief Bob Chapek $32.5 million in total compensation for 2021, his first full calendar year at the helm of the entertainment and media conglomerate.
Nearly half of Mr. Chapek’s pay came in the form of a $14.3 million cash bonus, according to a company filing Wednesday. The award shows Disney has revived giving out non-equity bonuses after suspending them in 2020 as the coronavirus pandemic ravaged the company’s revenue. Mr. Chapek’s total compensation last year more than doubled the $14.2 million he earned in 2020.
Shortly after taking the reins as CEO in February 2020 from longtime chief Robert Iger, Mr. Chapek took a steep pay cut. In March 2020 as the pandemic forced theme parks to close and kept moviegoers at home, Disney’s share price fell to $85.76, its lowest level in nearly six years. It has since recovered to more than $150 a share due in part to the rise of the Disney+ streaming service and the reopening of the company’s theme parks last year.
In addition to the cash bonus, Mr. Chapek received a base salary of $2.5 million, stock and option awards valued at nearly $14 million and other compensation, including a change in the value of his pension, worth $1.7 million, according to the filing.
Write to Robbie Whelan at [email protected]
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