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Disney Execs Iger and Staggs to Get Big Stock Option Awards - LA Times 07/01/05

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  • Disney Execs Iger and Staggs to Get Big Stock Option Awards - LA Times 07/01/05

    Article from The Los Angeles Times - July 1, 2005
    Disney Execs Iger and Staggs to Get Big Stock Option Awards

    Grants to the incoming CEO and the CFO are part of compensation for 2005, a filing says.

    Walt Disney Co.'s incoming chief executive, Robert Iger, and Chief Financial Officer Thomas O. Staggs are getting sizable stock option awards as part of their compensation for the year.

    According to a Securities and Exchange Commission filing late Wednesday, Iger was awarded options to acquire 274,241 Disney common shares at a strike price of $25.80.

    Staggs received 125,367 stock options at the same exercise price, SEC filings said.

    The grants vest over three years beginning in June 2006, according to the filings.

    Iger, now Disney's president, is scheduled to succeed Michael Eisner as CEO of the Burbank entertainment company Oct. 1.

    Iger has been selling shares from previously granted stock options slated to expire early next year. Those sales of shares underlying options, which are triggered when Disney's stock price hits $28, are being conducted under a prearranged trading plan.

    Separately, Disney named Kevin Mayer as executive vice president of its retooled strategic planning unit, which has had many of its functions shifted to operating divisions.

    The unit is called the Corporate Strategy, Business Development and Technology Group. Disney said it would focus on emerging businesses, new technology and cross-division issues.

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