Bob Iger Is Set to Sell Up to $42 Million in Disney Stock
The Walt Disney Company’s stock rose sharply last week after Bob Iger delivered a strong FY2024 Q4 earnings report.
Boosted by a historic summer at the box office and continued profitability in streaming, Disney ended the year with a bang. Despite concerns about Disney Experiences’ slight underperformance and the continued uncertainty surrounding linear television and ESPN, investors liked what they saw.
Photo: Disney
With Iger able to paint a rosy picture of Disney’s future, shares in the company skyrocketed, jumping as high as 15%. When the market opened on Thursday, Disney’s stock price had risen to $110. As of this writing, it currently sits at $114.
Bob Iger Stands to Make Over $42 Million
The timing could not have been better for Iger. According to The Hollywood Reporter, the Disney CEO adopted a trading plan on August 14 that allows for the potential exercise of his vested stock options. The 372,412 shares were originally granted to Iger on December 18, 2014, and the options expire on December 18, 2024.
Bob Iger
Disney revealed the potential sale as part of a Rule 10b5-1 plan for its fiscal year. The document announces pre-planned trades to avoid any concerns about insider trading. While the plan does reveal when certain stock conditions are met, it does not include a final action date. Iger adopted the trading plan on August 14.
Photo: Disney
Should Iger sell the full package of shares, he would stand to make over $42 million. As SEC regulations grant executives a short window to sell their stock after earnings are reported, it seems likely that Iger will make his move soon (if he hasn’t already).
With Disney’s stock continuing to rise, one thing is clear — it is good to be Bob Iger.
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