Disney Chief Executive Officer Bob Iger has sold 372,412 shares of company stock worth $42.7 million, according to a recent Securities and Exchange Commission (SEC) filing.
The stock sale, which took place on November 22, involved vested options that were originally granted to Iger in 2014 and were set to expire in December. The transaction was executed under a trading plan adopted earlier this month.
While the total market value of the sold shares reached $42.7 million, Iger's actual profit from the sale is considerably lower. The options came with an exercise price of $92.24 per share, meaning his gain would be the difference between this strike price and the sale price, before taxes. With Disney's stock closing at $115.65 per share on the day of the sale, Iger's estimated pre-tax profit amounts to approximately $8.7 million.
The stock sale comes at a time when Disney's shares have shown strong performance, rising more than 27% year-to-date. The company recently reported better-than-expected earnings for the September quarter and projected $1 billion in operating profit from its streaming services Disney+ and Hulu for fiscal 2025.
Iger, 73, returned to lead Disney in November 2022 after previously stepping down in early 2020. His current contract extends through the end of 2026, though the company plans to announce his successor in early 2026. James Gorman, former Morgan Stanley CEO and incoming Disney board chairman, will lead the succession planning process.
The company's recent success includes strong performances from its film studio, with hits like Deadpool & Wolverine and Inside Out 2 contributing to renewed investor confidence in the entertainment giant.
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