Disney CEO Bob Iger will sell up to 372,412 of his shares in the company’s stock, according to a new regulatory filing with the U.S. Securities and Exchange Commission on Thursday. If he sold them today, they’d be worth $41 million.
The move is part of a Rule 10b5-1 trading plan, which gives Iger the option to exercise vested stock options that were granted to him on Dec. 18, 2014, and expire on Dec. 18, 2024. Per the filing, Iger’s trading plan is scheduled to terminate on Dec. 17, subject to early termination.
The plan is designed to allow a company insider to sell or buy a predetermined number of company shares at a set price and time in accordance with SEC Rule 10b5-1, which helps them avoid insider trading accusations. The sale excludes any shares used to “effect a cashless exercise or withheld to satisfy tax withholding obligations in connection with the exercise or net settlement of the option awards,” the filing noted.
The disclosure comes as Disney stock jumped over 9% on Thursday following the company’s strong earnings report for its fourth quarter of 2024 and the full fiscal year.
Disney stock opened at $110.33 per share on Thursday and rose as high as $114.81 per share during the session. The stock is trading below its 52-week high of $123.74 per share hit in March and above its 52-week low of $83.91 per share hit in August.
Iger, who returned as Disney’s CEO in 2022 following the ouster of his successor-turned-predecessor Bob Chapek, is set to serve in the role through the end of 2026. His new successor is expected to be announced in early 2026.
