Bob Iger, chief government of Disney, cashed out a piece of his inventory choices value $42.7 million, in line with a regulatory submitting.

Iger offered 372,412 shares of Disney on Nov. 22, with an mixture market worth of $42,667,125.16, in line with an SEC submitting. These shares had been vested inventory choices Iger was granted in 2014 that had been set to run out in December; he exercised the choices beneath a buying and selling plan adopted final week.

Observe that Iger just isn’t pocketing $42.7 million. The choices granted in 2014 have an train value (aka “strike value”) of $92.24/share, which is the worth at which he may purchase the shares. Any achieve Iger makes on a inventory sale can be the distinction between the strike value and the share value on the time of a sale (minus taxes).

Disney’s inventory closed at $115.65/share Friday, up 0.8%. Yr up to now, the inventory has elevated greater than 27%.

Iger’s present contract with Disney run via the top of 2026. He had stepped down as CEO in early 2020 and was succeeded by Bob Chapek, previously head of Disney’s parks division. In November 2022 the board ousted Chapek and introduced Iger again on as chief exec.

Final month, Disney mentioned its board expects to announce a CEO successor to Iger in early 2026 and named James Gorman as chairman efficient January 2025. Gorman, the previous CEO of Morgan Stanley, heads the Disney board’s succession committee.