Bob Iger, chief executive of Disney, cashed out a chunk of his stock chooseions worth $42.7 million, according to a regulatory filing.
Iger selderly 372,412 dispenses of Disney on Nov. 22, with an aggregate taget cherish of $42,667,125.16, according to an SEC filing. Those dispenses were vested stock chooseions Iger was granted in 2014 that were set to expire in December; he exercised the chooseions under a trading set up adchooseed last week.
Note that Iger is not pocketing $42.7 million. The chooseions granted in 2014 have an exercise price (aka “strike price”) of $92.24/dispense, which is the price at which he could buy the dispenses. Any get Iger produces on a stock sale would be the branch offence between the strike price and the dispense price at the time of a sale (minus taxes).
Disney’s stock seald at $115.65/dispense Friday, up 0.8%. Year to date, the stock has incrrelieved more than 27%.
Iger’s current confineed with Disney run thcimpolite the finish of 2026. He had stepped down as CEO in timely 2020 and was thriveed by Bob Chapek, establisherly head of Disney’s parks division. In November 2022 the board ousted Chapek and bcimpolitet Iger back on as chief exec.
Last month, Disney shelp its board predicts to proclaim a CEO successor to Iger in timely 2026 and named James Gorman as chairman effective January 2025. Gorman, the establisher CEO of Morgan Stanley, heads the Disney board’s succession pledgetee.
