Walt Disney shareholders voted March 8 to shut down a compensation plan that could have awarded CEO Bob Iger an equity grant worth roughly $100 million and up to $48.5 million a year over four years, CNBC reports.
Here are four things to know about the decision.
1. The nonbinding vote concerned total compensation tied to the closing of Disney's proposed $52.4 billion takeover of 21st Century Fox's TV and film assets, as well as performance goals.
2. Forty-four percent of shareholders supported the plan, but 52 percent opposed it. Another 4 percent abstained from the vote.
3. Aylwin Lewis, chair of the board's compensation committee, told CNBC, "The board accepts the result of today's nonbinding vote and will take it under advisement for future CEO compensation."
4. Mr. Iger earned $36.3 million in fiscal year 2017, the report states.
More articles on business:
Amazon enters second phase of HQ2 search
YouTube expands partnership with MLB
Morgan Stanley analyst: Tesla's biggest threat may be Amazon