Dive Summary:
- Based on reports released by the Securities & Exchange Commission, retail chief of Barnes & Noble has sold roughly two thirds of his stock ownership within the last several days.
- Mitchell Klipper has relinquished control of roughly 400,000 shares of his previously owned stock in the company, amounting to a total that exceeds $5 million. The sales were made from Aug. 22 through Aug. 26.
- Sales of the shares came just days after Barnes & Noble formerly announced it would no longer consider splitting the company last week, lifting a mandate prohibiting senior management from selling stock shares.
From the article:
As of the company's recent proxy filing dated July 29, Mr. Klipper owned 622,000 shares, including 107,000 options. His position amounted to about 1% of the 59.7 million shares outstanding.
