Disney CEO Bob Iger realizes $26.6-million pre-tax gain from stock sale
The entertainment giant's stock rose after Iger announced Tuesday, during the company's quarterly earnings call with analysts, that Disney planned to make a sequel to Marvel Entertainment's "The Avengers." The superhero movie smashed domestic box-office records in its opening weekend and has grossed more than $800 million in worldwide ticket sales, according to BoxOfficeMojo.
Iger sold $81.6 million in stock, or 1.8 million shares at an average price of $45.36, on Thursday, according to a regulatory filing made with the Securities and Exchange Commission.
Other executives, including general counsel Alan Braverman and corporate strategist Kevin A. Mayer, also sold stock in the days after Disney's earnings report.
Disney issued a statement noting that Iger owns 1.14 million Disney shares, with a value that exceeds the company's ownership requirement. The sale was "part of routine financial planning to meet his family's diversification goals."
-- Dawn C. Chmielewski
Photo: Robert A. Iger, chairman and chief executive of Walt Disney Co., speaks during an interview at the company's studios in Burbank. Credit: Patrick Fallon / Bloomberg