Disney’s Bob Iger sells shares worth $42.7M

Disney CEO Bob Iger sold 372,412 shares of Disney stock for $42.7 million yesterday according to an SEC filing. The shares were part of stock options granted to him in 2014 and were set to expire in December.

Sales impact and gains
Though the sale is in millions, Iger’s actual gains depend on the difference between the $92.24 per share strike price and Disney’s current trading price ($115.65/share as of Friday) minus taxes.

Strong performance boosts stock price
The timing of the sale aligns with Disney’s strong performance this year, with its stock up 27% year-to-date. This increase follows better-than-expected Q3 earnings and improved streaming profitability.

Disney projects $1 billion in operating profit from Disney+ and Hulu by 2025 and double-digit earnings-per-share growth from 2026 onward.

Iger, 73, is under contract until 2026. Disney plans to name his successor by early that year, with board chairman and former CEO of Morgan Stanley, James Gorman, overseeing the transition.