Stock Awards!!

Diz Co.'s Bob Iger earns some nice moolah...

Walt Disney Company Chairman and CEO Bob Iger saw his pay rise to $65.7 million, an 80% increase over a year ago, according to documents filed today with the SEC.

The compensation reflects the generous stock package Iger was awarded as incentive to remain with the company past his planned retirement date, and lead Disney through its acquisition of much of 21st Century Fox’s film and television assets.

Iger earned a salary of nearly $2.9 million, up from $2.5 million a year ago. He collected options worth $8.3 million and non-equity compensation of $18 million.

But the biggest chunk of Iger’s compensation came from the stock award connected to the Fox deal, which was valued at $35.35 million. Disney notes that the stock ultimately could be worth as much as $149.6 million if the acquisition wins regulatory approval and closes. ...

It's worth noting that Mr. Iger has over-stayed his retirement date to shepherd newly-acquired Fox assets into the Empire of the Mouse. (And happily, conveniently, collected a bunch more money.)

It's also worth noting that Mr. Iger's heir apparent was ... all of a sudden ... found to be wanting as the Chairman's exit date neared. Remarkably, this same phenomenon occurred with Big Iger's predecessor Michael Eisner when his end-date approached. (And there was scuttlebutt at the time that Mr. Iger was also not up to Eisner's exacting standards. How about that?)

Funny how that works. Much like imperial Rome during royal successions, except without the long knives.

The lesson to be gleaned here, of course, is its hard for well-compensated execs to say goodbye when exit-time approaches. And it's not just the money. It's also the power and perks and the fun of being the emperor of all you survey.