Make that $74M in stock dumped by Humana execs
Three more Humana executives have cashed in bundles of stock, increasing the total value of shares sold this week by the company's top leaders to nearly $73.8 million.
Brian LeClaire, senior vice president and chief information officer, sold 26,894 shares for $5.5 million. Also, Roy Beveridge, senior vice president and chief medical officer, and Christopher H. Hunter, senior vice president and chief strategy officer, each sold more than 4,000 shares on Wednesday. The value of three transactions totaled $7.3 million, according to federal Securities and Exchange Commission documents filed Wednesday.
The sales come a day after president and chief executive Bruce Broussard and seven other officers sold 323,648 shares of company stock for $66.4 million —sales arranged about three working days after the health insurance giant announced its mutual breakup with rival Aetna on a $37 billion merger deal. The 10 officers in total dumped 332,500 shares.
Now that the transaction is off, executives were freed to make transactions with stock they buy and also receive under their compensation agreements. It also appears to be a great time to sell, given analysts' predictions that the share price eventually could slide $50 to $60 per share. The notices of the sales were filed with the SEC under insider trading disclosure rules. The law requires that such sales can't exceed 1 percent of a company's outstanding shares, which doesn't come near the threshold because 1 percent would mean nearly 2 million shares of 198 million outstanding shares in late January,
Read more: http://www.courier-journal.com/story/money/companies/2017/02/22/make-673m-stock-dumped-humana-execs/98253044/
= new reply since forum marked as read
