- AMC Entertainment(NYSE:AMC)CEO Adam Aron disclosed the sale of another tranche of his company stock - what he says is thelast of the planned sales he previewed last August - and now says "I am in!"
- In anSEC filing, the company notes Aron sold another 312,500 shares as part of his Rule 10b5-1 prearranged trading plan. At an average sale price of $22.846, that meant proceeds of $7.14 million.
- Shares are down 0.8% after hours.
- The moves leave him with current beneficial ownership of 205,086 shares, about $4.66 million worth at today's price. But he still has many more shares vesting.
- "Back in August, I said that at age 67 I’d sell some AMC shares toward year-end, all trading decisions out of my hands, under guidelines of a Chase 10-b-5-1 plan spread over 3 months," he now tweets.
- "Those sales are now all finished. I STILL OWN OR PLAN TO VEST IN 2,302,760 AMC SHARES. I am in!"
- Aron has sold some $40 million shares since he said in the Aug. 9 earnings call that he hadn't sold shares through the stock's "incredible" run, but given that he was 67,for estate planning he would start selling shares in December 2021.
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