CFOs Cash Out (WSJ)

Finance chiefs sell more company stock this year as share prices rise.

CFOs have been selling more of their company stock this year, according to a report in the Wall Street Journal. It calculates that finance chiefs’ sales through Aug. 21 totaled $895 million, up almost 19% from the same period last year.

The CFOs are selling low-priced options that they were granted during the recession amid a rally in the stock market. Steven Sordello, CFO at LinkedIn, has sold $35.6 million in stock this year, while Omnicom Group CFO Randal Weisenburger has realized $33.8 million from a combination of selling and surrendering stock back to the company.

 

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