Jefferies Financial Group announced that its Chief Executive Officer, Rich Handler, sold 1.5 million shares of Jefferies stock at $43.50.
The sale was made to facilitate the purchase of a personal boat and to pay tax obligations.
For the 34 years since joining Jefferies in 1990, Mr. Handler has received approximately 70% of his compensation in the form of Jefferies shares and, except for tax purposes and charitable donations, has never sold shares.
Following this sale, Mr. Handler owns on a fully diluted basis approximately 19.25 million Jefferies shares. The sale represents approximately 7% of Mr. Handler’s aggregate holdings.
Mr. Handler stated: “My sale of shares today was a gift to myself and my family, and I do not intend to sell any further shares. I remain extremely bullish on Jefferies and fully committed to helping us continue to build the best independent, global and full service investment banking firm.”
Source: Jefferies
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
Citi Changes Organizational Structure
SEC Charges Virtu for Disclosures Relating to Information Barriers
ICE Futures Singapore Partners with CoinDesk Indices
Related articles
-
Europe’s first and largest ETF white label platform has record $7.7bn AUM.
-
The technology could help increase trust and efficiency in the voluntary carbon market.
-
The partnership focuses on quantitative strategies for listed equities.
-
The group becomes a major European fund manager with over €1,500bn in assets.
-
The proposal would modify certain leverage capital standards for the largest systemically important banks.