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Disney CEO Iger buys $1 million worth of Apple stock
December 1, 2011 / 5:41 PM / 6 years ago

Disney CEO Iger buys $1 million worth of Apple stock

(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.

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

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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