Andrea Jung

Disney's CEO gets his Apple shares

November 18, 2011: 8:19 AM ET

The new board member was granted restricted shares worth $55,000 and change

Iger. Photo: Josh Hallett via Creative Commons

According to a Form 4 filed with the SEC on Thursday, Disney (DIS) CEO Robert Iger received as part of his new position on Apple's board of directors 142 restricted shares that vest next February.

At Apple's (AAPL) closing price of $388.83 Tuesday, the day the shares were issued, the grant was worth

142 * $388.83 = $55,213.86

That's comparable to the grants offered other Apple directors. When Andrea Jung joined the board in January 2008, she received 3,000 restricted shares, but those shares had a strike price ($180.05) and took three years to become totally vested.

Fifty-five grand of course, is chump change for a man whose total compensation from Disney in 2009 (including cash bonus and stock) was more than $29 million. (According to a second SEC form filed Wednesday, his wife, Huffington Post editor Willow Bay, owns 75 shares of Apple common stock.)

The whole thing is doubly ironic since it was Iger who engineered the 2006 acquisition of Pixar that made Steve Jobs Disney's single largest shareholder. When he died, Jobs' 138 million shares of Disney, now worth $4.85 billion, were reportedly being transferred to a trust -- one presumably controlled by his wife Laurene Powell.

NOTE: An earlier version of this story suggested -- incorrectly -- that Willow Bay's 75 shares were part of Iger's director's grant.

  • Apple's most popular board member

    No, it's not Steve Jobs or Bill Campbell or even Al Gore

    OK, it wasn't the Oscars and Steve Jobs is not Colin Firth.

    But there was a sort of Best Board Member vote at Apple's (AAPL) shareholder meeting this week, and the outcome was a surprise.

    According to the SEC Form 8-K filed on Thursday, Steve Jobs was re-elected to the board of his own company with nearly 3.5 million fewer votes MORE

    - Feb 25, 2011 7:39 AM ET
  • Al Gore gets 10,387 more Apple options

    Serving as a lightning rod for activist shareholders has its rewards

    Al Gore took his lumps at Apple's (AAPL) shareholders meeting Thursday.

    Sitting in the front row with the other outside directors, he had to bite his tongue as two pro-environment proposals were voted down and a gadfly named Shelton Ehrlich took the mic to call him a "laughingstock."

    "The glaciers have not melted," Ehrlich said, referring to Gore's frequent warnings about the MORE

    - Feb 27, 2010 1:13 PM ET
  • Where are Apple's women execs?

    Thank goodness for Andrea Jung.

    Jung, the CEO of Avon Products (AVP), was elected to Apple's (AAPL) board of directors last January (link), and on the strength of her presence in the board room, the company is ranked No. 262 in the fourth annual U.C. Davis census of women directors and executive officers in California's 400 largest companies.

    If it weren't for Jung, Apple would be lumped with the 117 (29.2%) companies MORE

    - Nov 24, 2008 9:24 AM ET
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.