As a seasoned gamer who’s spent countless hours navigating virtual worlds and stock markets alike, I can’t help but feel a twinge of nostalgia as Bob Iger prepares to sell some of his Disney shares. I remember back in 2014, when I was just a fledgling investor myself, watching with bated breath as Iger took the helm at Disney. His strategic moves, from acquiring Marvel and Star Wars to launching Disney+, have not only shaped the entertainment landscape but also my investment portfolio.
Disney CEO Bob Iger is planning to sell some of his shares in the company.
As per a regulatory disclosure made public on Thursday, Iger may choose to offload up to approximately 372,412 shares. These shares were originally obtained through vested stock options. If he decides to sell the entire shareholding, it would equate to around $41 million at the opening price of Disney’s stock on Thursday ($110.33).
According to the report, Iger established a stock trading plan on August 14th, enabling him to exercise his vested stock options worth approximately 372,412 shares. These options were originally granted to him on December 18, 2014, and they will expire on December 18, 2024. However, Iger’s trading plan is set to end a day before the options expire, on December 17.
According to Disney’s financial report for the year, the prospective sale was disclosed under a Rule 10b5-1 arrangement. This plan establishes scheduled trades designed to prevent allegations of insider trading by executing them automatically once specific stock criteria are fulfilled.
The prospective sale transpired following Iger and his wife, Willow Bay, reaching an agreement to purchase the Angel City Football Club in July. According to reports, they were set to obtain a controlling interest in the Angel City Football Club for $250 million and intended to inject an extra $50 million to foster the club’s future expansion.
Iger has not yet made the sale, but Disney’s stock price was climbing, up 6 percent in midday trading Thursday, after the earnings beat by Disney reported Thursday morning. Typically, corporate executives like Iger have a limited window in which to sell stock without triggering insider trading concerns, and those windows are usually shortly after earnings are disclosed.
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2024-11-14 21:55