Iger sees six-figure payday for joining Apple's board
Disney Chief Executive Bob Iger is getting a little over $100,000 for joining Apple's board. That includes his first year's retainer and restricted stock units, which vest in three months.
Disney President and CEO Robert Iger will be pulling in just over six figures after joining Apple's board, when you consider both his annual retainer and his initial grant of restricted stock units.
In an SEC filing today, Apple noted that Iger--who joined Apple's board of directors yesterday--will get "the standard $50,000 annual retainer" which is to be paid out in quarterly installments.
Additionally, Iger gets an initial grant of 142 restricted stock units, as part of the company's Director Plan, worth about $55,000 based on Apple's current trading price. According to Apple's annual proxy filing earlier year, those shares are set to vest in February.
Other perks Iger gets as an Apple board member include "one of each new product" Apple introduces, free of charge, under the company's Board of Directors Equipment Program; that's if he requests them, the program's description says.
As a frame of reference, Iger's base salary last year as the CEO of Walt Disney was just shy of $2.8 million. However he pulled in more than $28 million when including a mix of performance-based bonuses and annual equity awards.
Besides Apple, Iger is on a handful of other boards, including the National September 11 Memorial & Museum and New York's Lincoln Center for the Performing Arts. This is also Iger's second board appointment this year. In June, he joined the board of the U.S.-China Business Council.