DIS Shareholders and Stock Info ONLY

[RivShore]

And speaking of crappy transitions, how much of our shareholder dollars helped fund this little purchases... LOL

https://nypost.com/2022/06/28/bon-jovi-sells-22m-nyc-condo-to-former-disney-prez-michael-ovitz/

 

[wabbott]

And speaking of crappy transitions, how much of our shareholder dollars help fund this little purchases... LOL

https://nypost.com/2022/06/28/bon-jovi-sells-22m-nyc-condo-to-former-disney-prez-michael-ovitz/

The definitive account of the Katzenberg and Ovitz lawsuits. Required reading to have an understanding of the Eisner era.

https://www.amazon.com/Keys-Kingdom...8174493?pageNumber=2&reviewerType=all_reviews

The Keys to the Kingdom: How Michael Eisner Lost His Grip
by Kim Masters

 

[ChipTheRescueRanger]

Chapek’s contract has been extended by 3 years….

 

[wabbott]

https://www.hollywoodreporter.com/b...ek-secures-new-long-term-contract-1235162215/

Disney CEO Bob Chapek Secures New Long-Term Contract

Disney’s board of directors announced the new three-year contract extension Tuesday, saying the decision was “unanimous.”

By Alex Weprin - June 28, 2022 1:25pm

 

[wabbott]

https://www.cnbc.com/2022/06/28/dis...-ceo-bob-chapeks-contract-by-three-years.html

https://finance.yahoo.com/m/70047dd5-b484-38bf-8ca5-25dbfab3bcab/disney-board-votes-to-renew.html

 

[Mexacajun]

https://www.hollywoodreporter.com/b...ek-secures-new-long-term-contract-1235162215/

Disney CEO Bob Chapek Secures New Long-Term Contract

Disney’s board of directors announced the new three-year contract extension Tuesday, saying the decision was “unanimous.”

By Alex Weprin - June 28, 2022 1:25pm

 

[wabbott]

https://www.marketscreener.com/quot...ancial-Statements-and-Exhibits-form-40847876/

WALT DISNEY CO : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
06/28/2022 | 04:49pm EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 28, 2022, the Board of Directors of The Walt Disney Company (the "Company") and Robert A. Chapek, the Company's Chief Executive Officer, agreed to extend the term of Mr. Chapek's employment agreement with the Company to three years, beginning from July 1, 2022. The employment agreement will be amended to provide that Mr. 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%. These awards do not guarantee Mr. Chapek any minimum amount of compensation. The actual amounts payable to Mr. Chapek 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 Company's stock. Accordingly, Mr. 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 Company's stock. No agreement has been made to amend any other terms of Mr. Chapek's existing employment agreement, including his base salary.
A copy of the press release issued by the Company on June 28, 2022 is attached as Exhibit 99.1 heret

 

[wabbott]

Link to all the docs.

https://otp.tools.investis.com/clie...&FilingId=15918854&CIK=0001744489&Index=10000

 

[CalOilerGurl]

Chapek’s contract has been extended by 3 years….

As a fan and a shareholder, disgust doesn't even begin to describe how I feel.....

 

[wabbott]

Love this headline!! Only in Hollywood.

https://variety.com/2022/film/news/disney-ceo-bob-chapek-contract-extended-1235305477/

Jun 28, 2022 1:29pm PT
Embattled Disney CEO Bob Chapek Gets Contract Extension
By Brent Lang

 

[PCFriar80]

https://www.cnbc.com/2022/06/28/dis...-ceo-bob-chapeks-contract-by-three-years.html

https://finance.yahoo.com/m/70047dd5-b484-38bf-8ca5-25dbfab3bcab/disney-board-votes-to-renew.html

As much as I dislike this news, Wall Street [after hours] seems okay to indifferent about it. I really don't think there were any other options to be honest. I'm sure Sheryl Sandberg was considered, but think there's more to her departure at FB [META] than we know.

 

[clarker99]

Hard pressed to believe the board will get a better opportunity to move on from Chapek than now. It literally would have been met with rousing support from fans and Wall Street probably yawns.

 

[RamblingMad]

Love this headline!! Only in Hollywood.

https://variety.com/2022/film/news/disney-ceo-bob-chapek-contract-extended-1235305477/

Jun 28, 2022 1:29pm PT
Embattled Disney CEO Bob Chapek Gets Contract Extension
By Brent Lang

The parks are packed, and he's making a lot of money. The Disney fans are to thank for more years of Chapek.

 

[wabbott]

Hard pressed to believe the board will get a better opportunity to move on from Chapek than now. It literally would have been met with rousing support from fans and Wall Street probably yawns.

Unless it was all just a drumbeat from a vocal minority who knows how to leverage social media toward their ends.

 

[clarker99]

The parks are packed, and he's making a lot of money. The Disney fans are to thank for more years of Chapek.

Safe to say the the parks would be packed with or without Chapek.

 

[HopperFan]

Hard pressed to believe the board will get a better opportunity to move on from Chapek than now. It literally would have been met with rousing support from fans and Wall Street probably yawns.

Problem is the same reason Chapek even has his job. The Board never prepared well for Iger to leave. I think they thought they could convince him to stay on forever. They let Staggs leave when it should have been him. Iger left so they had no choice to just pick someone. Chapek has no resume for his job and certainly not the personality needed. Here we are again - they let Chapek fire Rice who would likely be his successor (hmmm, wonder why?). If they let Chapek go they had to be ready to move someone in who was ready. Who would that be? My guess D'Amaro or Daniel ... maybe Board wants them the opportunity to marinate more before choosing the next one. Don't want to repeat the mistake. And face it, stock keeps falling, and there are lots of issues. Parks can't keep the whole company afloat. Is there an endgame in keeping him for now?

 

[clarker99]

Unless it was all just a drumbeat from a vocal minority who knows how to leverage social media toward their ends.

Oh, I hear you. The disney blogger/social media echo chamber is real and the Chapek hate gets clicks.

 

[clarker99]

Problem is the same reason Chapek even has his job. The Board never prepared well for Iger to leave. I think they thought they could convince him to stay on forever. They let Staggs leave when it should have been him. Iger left so they had no choice to just pick someone. Chapek has no resume for his job and certainly not the personality needed. Here we are again - they let Chapek fire Rice who would likely be his successor (hmmm, wonder why?). If they let Chapek go they had to be ready to move someone in who was ready. Who would that be? My guess D'Amaro or Daniel ... maybe Board wants them the opportunity to marinate more before choosing the next one. Don't want to repeat the mistake. And face it, stock keeps falling, and there are lots of issues. Parks can't keep the whole company afloat. Is there an endgame in keeping him for now?

The whole thing is far more sophisticated than we will ever know. Most of these board members sit on other boards and run their own companies. The pandemic def didnt lend itself to caring about Disney let alone Bob Chapek. Especially since Disney is largely unscathed and the brand is killing it.

It is just my opinion (which means zero) that the board had an opportunity to just move on from a PR plagued CEO with little pushback. Recession, political issues, Low stock price, etc etc. You would like to think the board are playing 3D chess here but….. unlikely.

 

[middlechild]

https://www.marketscreener.com/quot...ancial-Statements-and-Exhibits-form-40847876/

WALT DISNEY CO : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
06/28/2022 | 04:49pm EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 28, 2022, the Board of Directors of The Walt Disney Company (the "Company") and Robert A. Chapek, the Company's Chief Executive Officer, agreed to extend the term of Mr. Chapek's employment agreement with the Company to three years, beginning from July 1, 2022. The employment agreement will be amended to provide that Mr. 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%. These awards do not guarantee Mr. Chapek any minimum amount of compensation. The actual amounts payable to Mr. Chapek 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 Company's stock. Accordingly, Mr. 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 Company's stock. No agreement has been made to amend any other terms of Mr. Chapek's existing employment agreement, including his base salary.
A copy of the press release issued by the Company on June 28, 2022 is attached as Exhibit 99.1 heret

If the part in bold says what I think, the board kept him on because he agreed to work for little in his check but big if the stock booms. The part of his compensation that is NOT performance related is 40%. If my math is correct, that means as little as $8 million annually in guaranteed compensation of stock and dollars. But if the stock booms, meaning Disney+ doubles in subscriptions, parks remain sold out, Marvel universe and Pirates draw big at the box office, ESPN drops the overly expensive on-air talent and sports broadcast guarantees, then Bob C makes out great.

Who wouldn't take a risk on letting Bob swing on the end of a leash for a little while longer, if Bob's wallet is affected?

 

[clarker99]

If the part in bold says what I think, the board kept him on because he agreed to work for little in his check but big if the stock booms. The part of his compensation that is NOT performance related is 40%. If my math is correct, that means as little as $8 million annually in guaranteed compensation of stock and dollars. But if the stock booms, meaning Disney+ doubles in subscriptions, parks remain sold out, Marvel universe and Pirates draw big at the box office, ESPN drops the overly expensive on-air talent and sports broadcast guarantees, then Bob C makes out great.

Who wouldn't take a risk on letting Bob swing on the end of a leash for a little while longer, if Bob's wallet is affected?

Disney+ is going to grow. They just launched is many new markets. Marvel/Disney will dominate the box office. The parks are def going to be packed. The stock is at near the same price as the middle of 2016. Feels like Bob will make out just fine if deal is based on growing the stock from todays price.