We have a new superhero idea in mind for Marvel Entertainment . He's called "Option Man," and he has the uncanny ability to score huge profits in a single deal. Moreover, we know exactly who should play him in the movie adaptation.
Yep, Marvel Entertainment CEO Isaac "Ike" Perlmutter.
The Wall Street Journal reported Thursday that Perlmutter was granted stock options for more than a million shares in the weeks after a subordinate began speaking with Disney about a potential merger between the two companies, according to a filing Disney submitted to the SEC this week.
Perlmutter stands to rake in more than $34 million from the 1.27 million options, granted at strike prices ranging from $23.15 to $25.86, according to the Journal
. In case you have been off reading comic books instead of TheStreet.com
, that's around half the $50 price tag that Disney agreed to pay for each Marvel share on Aug. 31 as part of its $4 billion acquisition of the company. And while Perlmutter's ability to exercise the options was initially spread over several years, the Disney deal means his options will vest immediately.
Now that's a lot of cash. Even Tony Stark, the playboy CEO of Stark Industries (aka Iron Man) wouldn't sneeze at that sum.
According to the filing, David Maisel, chairman of Marvel's film division, met with Disney CEO Robert Iger on Feb. 18, 2009 "to discuss ways in which the relationship between the two companies could be expanded." Then on March 2, Perlmutter was granted options for 514,354 Marvel shares with an exercise price of $25.86. On March 23, he was granted options to buy another 750,000 shares for $23.15 each, says the Journal
Marvel contends in its filing that Maisel didn't discuss the meeting with anyone else at the company, including Perlmutter. Iger and Maisel met again on June 2. After this get-together, Maisel told Perlmutter of Iger's interest in buying the company.
Then again, who knows? Option Man could have super hearing. Or perhaps a sixth sense, like Spider-Man's, that alerts him when trouble -- or a merger -- is in the air.
Dumb-o-meter score: 90 -- As the great Stan Lee said, 'With great power comes great responsibility.' Stay tuned True Believers!"
Photo Credit: chanchan222