CEO Sells $42 Million in Disney Stock As He Exits
Bob Iger, who served as CEO of Disney (DIS) for two years, has sold off $42.7 million worth of Disney stock, even as he prepares to be replaced. Disney stock is up at the moment.
This is his second time as CEO of the entertainment company, and Disney is looking for his replacement. Iger will be stepping down in 2026, as he initially agreed to when he came on to replace the previous CEO Bob Chapek.
Disney had been experiencing financial woes when Chapek was in charge and asked Iger to come in and right the ship. Iger has had to combat poor box office numbers from a series of underperforming movies, including The Marvels, Wish, Indiana Jones and the Dial of Destiny, and Ant-Man and the Wasp: Quantumania. He was also left with a streaming service that was hemorrhaging money.
Recent successes have helped get Disney back on track, including Inside Out 2, which brought in more than $1 billion. Alien: Romulus opened to a strong $100 million debut, and Deadpool & Wolverine has been a runaway success.
Disney has also found success on streaming, managing to take its streaming service Disney+ out of the red during its most recent quarterly earnings report.
Iger Had to Sell Stock
Back in 2014, Iger was given the stock options, and they were going to expire next month. These vested stock options were part of a 10-K plan that Disney filed with the SEC to give Iger a chance to exercise the options. From the sale of the stock, Iger pocketed a tidy $8.3 million sum, which does not include taxes.
Disney stock is now at $116 per share, up from the $96 per share they were at a year ago but down from the $146 per share price three years ago. Since July of 2024, Disney stock has been shooting up, gaining 33% in that period. For the year, the stock has gained 27%. It looks like what Iger has done is paying off.
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