Discovery Execs Profit From Stock Sales - Multichannel

Discovery Execs Profit From Stock Sales

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Discovery Communications founder and chairman John Hendricks sold 500,000 shares in the past few weeks for more than $21 million, while outgoing chief financial officer Brad Singer reaped a $2.4 million profit from exercising stock options, according to documents filed with the Securities and Exchange Commission Monday.

Hendricks sold 500,000 shares of Discovery stock between Nov. 8 and Nov. 10 for prices ranging from $41.59 per share to $42.99 per share, according to the SEC documents. He still controls about 1.2 million shares of Discovery stock. This was the second stock transaction for Hendricks in about three weeks. According to SEC documents the Discovery chairman exercised stock options on Oct. 24 for 100,000 shares that reaped him a profit of $2.8 million.

Hendricks315

Singer, who announced in July that he would leave the company next year, exercised options for about 100,000 shares in an automatic sale on Nov. 10 at $17.72 per share. He sold them that same day at prices ranging from $41.59 to $42.46 each, reaping a profit of about $2.4 million, according to the SEC filing.

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