Compensation Package for Incoming Disney General Counsel Horacio Gutiérrez Revealed in SEC Filings
The compensation package for Horacio Gutiérrez, the new General Counsel for The Walt Disney Company, has been revealed through new filings with the Securities & Exchange Commission.
Gutiérrez, who replaces longtime counsel Alan Braverman, will receive a $2 million signing bonus on top of an annual salary of $1.3 million. Additionally, he is entitled to an annual incentive bonus of 200% of his salary, and an annual equity award worth 500% of his annual salary, according to Law360.
Gutiérrez’ current contract runs from February 1 of this year through December 31, 2024, according to SEC filings. He previously worked at Microsoft for over seventeen years before moving to Spotify, where he helped argue last year that Apple was an anti-competitive monopoly through their App Store service.
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Braverman has also been retained for a transition period, according to the same SEC filing and Law360. He’s set to make approximately $40,000 per month as a consultant for Disney from January 7 through at least March 1 or any other mutually agreed date. He is also entitled to $2000 per hour for any hour worked over 20 hours per month during this period.