New Apple Board Member Bob Iger Buys $1M In AAPL Shares
Newly appointed Apple board member and Disney president and CEO Bob Iger purchased 2,670 shares of Apple stock on the open market, according to a filing with the SEC. The average purchase price of the shares was roughly $375, valuing the purchase at $1,001,250.
The large open-market purchase shows Iger's faith in the future of Apple. When he was appointed director, Iger was awarded 142 restricted stock units, or RSU's, which vest into AAPL shares in February of 2012. His wife holds 75 shares of Apple from before he was appointed director.
Non-employee Apple board members are typically paid $50,000 per year in compensation for their time, plus an annual stock award in the form of RSU's.
While a nice perk, Iger's pay as an Apple director is small change. His compensation package from Disney totaled more than $29.5 million dollars in 2010.
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Top Rated Comments
Step 1: Learn to read
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Step 4: refrain from posting asinine comments
you misread that. It says the compensation from Apple is small change *compared* to the $29M he gets from Disney. Yes he's still the "1%," but it's not saying $29M is small change.
No... $1M isn't a serious amount for a guy like that.
He's just being friendly and showing he has some 'skin in the game'. It enhances his credibility amongst other board members, and the shareholders.
What do you do with it after you've bought a nice house and car? $29M is a lot of money. Buy an island?
Almost made it, haha.
Why do people hate on those who are successful?