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Disney incoming CEO sells stock under trading plan- AP- 5/24/05

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  • Disney incoming CEO sells stock under trading plan- AP- 5/24/05

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    WASHINGTON - Robert Iger, who is slated to take over the top job at Walt Disney Co. later this year, has sold $3.5 million in Disney stock under a prearranged trading plan, according to a regulatory filing.

    Iger, currently Disney's president and chief operating officer, acquired the stock by exercising options with strike prices of $21 on 124,400 Disney shares. He sold the shares last week for $28, netting him $870,800 before taxes.

    The stock options were slated to expire next February, according to the filing made late Monday with the Securities and Exchange Commission.

    Disney spokesman David Caouette said the sales were triggered when the company's stock price reached $28.
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