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  "authorName": "Trian Partners",
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  "notes": "Uses a quote from Iger to highlight the aggressive bidding strategy, contrasting it with the compensation increase.",
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      "text": "Despite the fact that Mr. Iger stepped down as CEO less than one year after the transaction closed, he was still permitted to retain his entire pay package.",
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      "text": "In our view, the prospect of a much larger compensation package created a strong financial incentive for Mr. Iger to pursue the Fox deal.",
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      "text": "Mr. Iger's revised compensation package included increases to his salary, annual incentive and annual equity grant, plus an “over-the-top” special equity award.",
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      "text": "On the same day that Disney agreed to acquire Fox, the Board extended Mr. Iger’s employment agreement by four years and awarded him an “over-the-top” compensation package.",
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      "text": "A number of people in our process actually advised that we not increase our bid significantly... I came up with the idea of bidding significantly higher because I thought it was the best way to cause Comcast to fold its tent.",
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      "text": "Source: SEC filings, MasterClass.",
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      "text": "...And Was Arguably the Result of Misaligned Incentives...",
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