Sources say that, before accounting for taxes, Disney CEO Bob Iger realized a $26.6 million gain from the sale of his company’s stock.
Disney’s stock prices rose after an announcement last week that Disney would be making a sequel to the box-office hit The Avengers. Iger sold 1.8 million shares of his stock after the announcement was made. Two more Disney execs – Alan Braverman and Kevin A. Mayer – also sold stock after the company’s earnings report.
In a statement, Disney said Iger sold stock because of a “routine financial planning [initiative] to meet his family’s diversification goals.” Currently, Iger owns 1.14 million shares in Disney.
