Iger sold 1 million shares of stock on May 14, according to a
Rasulo, also a senior executive vice president at Disney, sold 217,264 shares on May 15, netting him $9.2 million before taxes.
"As has been the case with past sales, these stock options were exercised to meet investment diversification goals," a Disney spokesperson said.
Iger exercised stock options at a price of $29.51 and sold the stock at an average price of $67.23. Rasulo exercised options at $20.81 and $29.90, and sold at an average price of $67.38. Shares of Disney hit an all-time high of $67.89 on May 16 -- within two days of both executives' sales.
The stock hit that new high mark a little more than a week after Disney reported a huge jump in net income for its fiscal second quarter. On May 7, the company posted net income of $1.51 billion for the quarter that ended March 30, up 32% from a year earlier. Revenue rose 10% to $10.55 billion.
But Rasulo tempered expectations for the third quarter during a May 30 appearance at a Nomura Securities investors conference when he reiterated comments made earlier in the month during a second-quarter earnings calls with analysts.
In his remarks, during a question-and-answer session, Rasulo cited film marketing expenditures. He noted that the cost of advertising for Disney's upcoming remake of "The Lone Ranger" would be incurred during the fiscal third quarter, but the company wouldn't receive revenue generated by the
It has been a lucrative stretch for Iger, whose total compensation was $40.2 million last fiscal year. He also sold 1 million shares of Disney in November, netting him $17.9 million.
Both he and Rasulo retain large holdings of Disney stock. Iger holds about 1.18 million shares, while Rasulo has about 144,000 shares, according to SEC filings. Additionally, as part of their compensation packages, both executives hold options on a significant number of shares.
Shares of Disney were up $1.64, or 2.6%, in late trading Friday, to $64.78. The stock is up 29% this year.