Multiple GameStop Executives Dump Shares For Big Profit
It's payday for several of the company's highest-ranking executives.
According to information acquired from Securities & Exchange Commission documents filed on September 19 (as cited by GameSpot), several head honchos have dumped a lot of their shares.
Executive Chairman Daniel DeMatteo sold 150,000 shares at $43.6306, which netted him $6,544,590, and he still has 230,953 shares remaining. GameStop Director Steven Koonin cashed in 1,800 shares, earning himself $78,538 (he has 17,820 shares left), CFO Robert Lloyd sold off 20,000 shares for a profit of $872,684 (he has 221,040 shares remaining), and VP of International Michael Mauler sold 24,070 shares for a net of $1,050,123 (and he has 167,503 shares left).
As for why they decided to cash in at the same time, we're not entirely sure. GameStop might make a killing this holiday season...
9/29/2014 9:28:17 PM Ben Dutka