Disney CFO Christine McCarthy Gets Contract Extended Through 2022, Plus $11M Annual Incentive Award

The Walt Disney Company has stated in an SEC filing that Chief Financial Officer Christine McCarthy’s employment contract will be extended by a year and a half. Previously, McCarthy’s contract was set to expire on June 30, 2021, but will now run through December 31, 2022.

The extension also grants McCarthy a long-term equity incentive annual award valued at $11 million. Per the filing:

For each full fiscal year during the term hereof, Executive shall receive an annual award with a target award value (which value shall be as determined in accordance with the policies and practices generally of Company) of $11,000,000. 

Previously, her annual award was based off of a percentage of her base salary. This annual award is subject to adjustment.

McCarthy plays a very forward-facing role in the company, and is often the voice we hear delving into the company’s financials during quarterly earnings calls. She has worked at Disney since 2000, serving as a CFO since 2015, and now oversees things like investor relations, corporate strategy, as well as the company’s social responsibility efforts.

The Walt Disney Company restored the salaries of its Senior Executives in late August, when thousands of Cast Members were still on furlough.