Dish Network CEO Joseph Clayton exercised stock options for 50,000 shares, reaping a profit of $1.76 million, according to a Securities and Exchange Commission filing Friday.
According to the filing, Clayton purchased 50,000 Dish shares at a strike price of $27.90 each on Oct. 1 and sold then that day for $63.14 each, reaping a profit of $1.76 million. The sale was made pursuant to a 10b5-1 automatic trading plan, which automatically trades stock when it reaches a predetermined price.
Dish stock is up about 12.5% this year. Shares closed at $65.16 each on Oct. 3, up 2.5% or $1.58 per share.