×

Jay Rasulo Sells Disney Shares Worth $12 Million; Still Working Without a Contract

If you’re Jay Rasulo and you’re a little sad about not getting the nod as the heir apparent to Robert Iger in the executive office at the Walt Disney Co., there are still some perks. Rasulo, the company’s senior executive VP and chief financial officer, unloaded 115,000 shares of Disney last week to pocket more than $12 million, according to a regulatory filing.

He continues to work at the Burbank-based company without a contract, which he let expire on January 31 as he awaited Iger’s decision about who would become the company’s next chief operating officer. Tom Staggs got the nod as COO, thus becoming the leading contender to succeed Iger when he retires as chairman and CEO of the company on June 30, 2018.

With Disney’s shares hovering near an all-time high, Rasulo’s bloc went for $106-$107 a share, according to the Securities and Exchange Commission paperwork. The filing said Rasulo still holds nearly 116,000 more shares either directly or through his 401(k). Disney’s last proxy statement reported that Rasulo also had the right to exercise options on up to 654,833 additional shares.

Rasulo’s loss in the runoff for the No. 2 Disney job in February led to wide speculation that he would leave the company for a top executive position elsewhere, but he has not commented. He remains on the job at Disney as an “at will” employee.

A sale of Disney shares is far from shocking; at least partial cash-outs are tempting as the stock nears its high of more than $108 a share. Disney (DIS) shares closed Thursday at $107.26, more than double where they stood at the start of 2013.

An earlier SEC filing showed Rasulo as the second highest-paid executive behind Iger. In fiscal 2014, Rasulo made $16 million, up from $10.7 million in fiscal 2013. Iger brought in a total of $46.5 million in salary, stock and other compensation.

Company officials declined to comment, and Rasulo could not be reached.

 

 

 

 

More Biz

  • Tan FranceUnforgettable Gala, Inside, Los Angeles,

    'Queer Eye' Star Tan France to Host Audiobook Audie Awards

    “Queer Eye” resident style expert Tan France is taking on a slightly different project next month as he hosts the Audie Awards, which honors the best releases and achievements in audiobooks over the past 12 months. The ceremony, which takes place on March 4 in New York, is an annual event organized by the Audio [...]

  • Obit Obituary Placeholder

    Shelly Saltman, Former Fox Sports President and Promoter, Dies at 87

    Sheldon “Shelly” Saltman, the sports promoter behind the Billie Jean King vs. Bobby Riggs tennis match and Evel Knievel’s Snake River Canyon jump, died Saturday in Los Angeles. He was 87. The original president of Fox Sports, Saltman started his career as a sports announcer before moving to promotions at media companies like the Gillette Cavalcade [...]

  • Arista Records, Mogul Vision Launch Joint

    Arista Records, Mogul Vision Launch Joint Venture

    Arista Records and Smokepurpp/ Lil Mosey manager Josh Marshall today announced the launch of Mogul Vision Music, a new joint venture label focused on “breaking extraordinary talent and building artist careers through innovative A&R, branding and marketing strategy,” according to the announcement. Based in New York with Marshall (pictured above left, with Massey) as its CEO, the [...]

  • Jussie Smollett

    Jussie Smollett Faces Prison, Career Ruin if He Lied About Attack

    Jussie Smollett is facing prison time and the implosion of his career if it turns out he lied about being the target of a hate crime, legal and public relations experts say. “The best thing that Jussie can do is pray and pray a lot,” said Ronn Torossian, founder of 5W Public Relations. “If he [...]

  • Gerrit Meier Variety Strictly Business Podcast

    Listen: Red Bull Practically Invented Branded Entertainment. What's Next?

    With memorable moves like sponsoring Felix Baumgartner’s jump from outer space in 2012 to achieve the world’s farthest ever-parachute drop, Red Bull has been a pioneering force in branded entertainment. While known best for its line of energy drinks, the beverage maker has eschewed traditional marketing for content that blurred the boundaries between advertising and [...]

  • Martin Bandier to Be Honored at

    Martin Bandier to Be Honored at Songwriters Hall of Fame Ceremony

    Martin Bandier, outgoing chairman and CEO of Sony/ATV Music Publishing, will be awarded the Visionary Leadership Award at the 50 th Annual Songwriters Hall of Fame Induction and Awards Dinner. The ceremony will take place on Thursday, June 13 at the Marriott Marquis Hotel in New York City. According to the announcement, the Visionary Leadership Award “acknowledges a member of the Songwriters Hall of Fame Board [...]

  • Hong Kong Disneyland Remains in the

    Hong Kong Disneyland Remains in the Red but Reduces Losses

    The Hong Kong Disneyland Resort theme park remained in the red for the fourth straight year, but there are signs of improvement. For the financial year to end-September 2018, HKDL reported $769 million (HK$6 billion) of revenue from 6.7 million visitors, an increase of 8%. Net losses fell from $32 million (HK$291 million) to $6.92 [...]

More From Our Brands

Access exclusive content