Disney CEO Iger buys $1 million worth of Apple stock

Thu Dec 1, 2011 12:46pm EST

Walt Disney Company President and CEO Bob Iger arrives at the 82nd Academy Awards in Hollywood March 7, 2010. REUTERS/Lucas Jackson (UNITED STATES)

Walt Disney Company President and CEO Bob Iger arrives at the 82nd Academy Awards in Hollywood March 7, 2010.

Credit: Reuters/Lucas Jackson (UNITED STATES)

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(Reuters) - Apple Inc's newest board member, Walt Disney Co Chief Executive Officer Bob Iger, bought about $1 million worth of the iPhone maker's shares earlier this week, a symbolic gesture of confidence in the prospects of the company.

Iger, who was appointed to Apple's board on November 15, bought 2,670 Apple shares on the open market on Tuesday at an average price of $375 each, according to a U.S. Securities and Exchange Commission filing.

Iger's wife also owns 75 Apple shares, the filing said.

As part of being a director of Apple, the long-time Disney executive also is entitled to the standard $50,000 annual retainer and received an initial grant of 142 restricted Apple stock units that will vest in February.

(Reporting by Poornima Gupta; Editing by Lisa Von Ahn)

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Comments (1)
kachnic wrote:
and he made already a profit from the investment something about 34k bucks :)

Dec 01, 2011 2:51pm EST  --  Report as abuse
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