With the good times continuing to roll at Disney, CEO Robert Iger has cashed in some of his stock in the company, taking in some $21.7 million by selling 200,000 shares, according to an official filing.
Iger continues to hold more than 1.1 million shares in the entertainment conglomerate, whose shares recently reached an all-time high. At an average price of $108.73 per share when he sold on Monday, the Disney boss’s sale netted him $21,746,000, an SEC filing showed.
Iger has received considerable credit for shaping Disney’s strategy, particularly in acquiring name-brand content partners like Marvel, Lucasfilm and Pixar. They have created not only big box office films but powerful brands that have expanded the bottom line in the company’s television, theme park and merchandising operations. The Disney board has rewarded the CEO with several pay hikes, bringing his salary to $46.5 million in the last completed fiscal year.
Iger is not the only Disney employee who has benefited from the company’s spiraling stock price. Chief financial officer Jay Rasulo cashed in 115,000 shares in March and pocketed more than $12 million.
Disney issued a statement calling the sale “part of Mr. Iger’s normal diversification of his portfolio,” adding that “he continues to hold more than 1.1 million shares.” The market did not flinch at the news, with Disney shares virtually unchanged Thursday from their opening price of more than $109 a share.