We reported earlier this week that Bob Iger was expected to sell his vested stock in the Walt Disney Company. Today we have confirmation the CEO intends to sell over $42 million in shares.
What’s Happening:
- According to a Form 144 submitted to the United States Securities and Exchange Commission, Bob Iger has filed to sell his 372,412 vested shares in The Walt Disney Company.
- Acquired through a 10b5-1 Trading Plan, the executive has been accruing stock in the company in a 10-year plan that allows him to buy and sell a specified amount of company shares at a set price.
- The plan began on December 18th, 2014, meaning the trading plan expires on December 18th of this year.
- With a market value of $42,667,125.16, the sale comes as Disney stock has been on the rise after a tumultuous year for the company's trading value.
- Iger returned to his role as CEO after his successor, Bob Chapek, was ousted from the company in 2022. He will serve as head of the House of Mouse until 2026.
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