In a notable financial move, Century Aluminium Co. President and CEO Jesse E. Gary has sold a substantial portion of his company stock, as reported by Investing.com.
On June 26, Gary offloaded 60,000 shares at an average price of $16.21 per share, resulting in a total transaction value of $972,600. The sale prices varied, ranging from $15.81 to $16.44, indicating diverse market conditions on the day of the sale.
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Despite this significant divestiture, Gary continues to hold a sizable stake in Century Aluminium, retaining 62,447 shares indirectly through a trust. Additionally, his total holdings are bolstered by unvested stock units granted under the company's Long-Term Incentive Plans, which remain unaffected by this recent transaction.
Century Aluminium's CEO's recent sale has garnered attention due to his prominent position and in-depth knowledge of the company's operations. The stock market often scrutinizes insider sales and purchases for insights into executives' confidence in their company's future.
For Century Aluminium investors and shareholders, this transaction may be a significant factor in their overall assessment of the company. It's important to consider the broader context of such sales, including the executives' reasons for selling and their remaining stake in the company.
However, Century Aluminium has not issued any official statement regarding the transaction.
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