Walt Disney Co. chairman and CEO Robert Iger this week exercised stock options that netted an estimated $26.6 million in profit, Bloomberg reports. The sale of 1.8 million shares worth $81.6 million took place Thursday, according to an SEC filing, at a cost to Iger of $55 million. The shares sold at an average price of $45.36 per share, yesterday’s closing price. Disney stock closed at a record $45.02 Wednesday after the Mouse outlined plans for a sequel to the studio’s runaway global hit Marvel’s The Avengers during its second-quarter earnings call. Stock climbed to $45.28 Thursday and again yesterday. Iger exercised his options at a cost of roughly $55 million. Iger still has 1.14 million shares with a value Disney said is 400% greater than ownership requirements. Disney is up 21% this year. Even after the stock-option “transactions, his holdings exceed what
Mr. Iger owned at year-end,” according to a Disney statement. The SEC “filing is part of routine financial planning to meet his family’s diversification.”
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