Earlier this month, it was reported that Disney president and CEO, Bob Iger, had joined the board of directors at Apple. Iger played an important role in rebuilding the partnership between Disney and Pixar after both the companies’ relationship turned away under the leadership of his predecessor at Disney, Michael Eisner. In addition to Iger joining the board, Art Levinson had been named the Chairman of the Board of Directors. Levinson replaced Steve Jobs in the chairman’s role, who was briefly named Apple’s chairman following his resignation as its chief executive. Art Levinson was the former Genentech executive and has served on Apple’s board since 2000. He has also been the co-lead director since 2005.
Today, a new statement filed with the U.S. Securities Exchange Commission reveals that Iger purchased a total of 2,670 shares of Apple on Tuesday, as noted by MacRumors. Apparently, Iger divided the purchase into two separate transactions of 1,370 and 1,300 shares each for a total purchase price of just over $1 million. Wow! Makes me wish I owned a $1 million in AAPL shares. In fact, it is the most undervalued stock in America. The filing also revealed that Iger’s wife owned 75 shares of Apple stock prior to his joining the company’s board.
In addition, according to MacRumors, non-employee Apple board members are typically paid $50,000 per year in compensation while they are on the board, plus an annual stock award in the form of RSU’s.