Bob Iger recently sold 372,412 shares of the stock options granted to him in 2014 under a newly-adopted trading plan, with the total transaction valued at about $42.67 million, according to a Securities and Exchange Commission filing (per Variety).
To clarify, Iger is not taking home the full money. The stock options he exercised were priced at $92.24 each, which is the cost at which he originally acquired the shares. The actual profit from the sale is the difference between this base price and the selling price, minus any taxes paid.
Disney’s stock value increased after announcing strong earnings for the September quarter on November 14. The company exceeded Wall Street predictions, improved the profitability of its streaming services, Disney+ and Hulu, and forecasted a profit of around $1 billion from these platforms for 2025. It also predicted steady earnings growth for the next few years.
Iger chose to sell his stocks during a period when Disney faced negative feedback for its supposed focus on a ‘woke’ agenda in its new releases. Earlier this year, the CEO addressed the criticism by stressing that the company’s priority is to entertain audiences rather than push specific messages.
Iger is under contract with Disney until the end of 2026. He re-took his role as CEO after the board dismissed his initial successor, Bob Chapek in November 2022.
The company mentioned plans to appoint a new CEO to follow Bob Iger in early 2026, with former Morgan Stanley CEO James Gorman set to become chairman in January 2025. Gorman is also leading the committee responsible for choosing the next CEO.
Meanwhile, shareholder Nelson Peltz is ready to take over Disney and steer it away from what he considers ‘woke’ content though the company board is openly against letting him near creative decisions.
