John Tyson, chairman of Tyson Foods and grandson of the founder, sold 335,550 shares of his stock in the meat company for proceeds totaling more than $13.858 million. The insider transaction was reported to the Securities and Exchange Commission on Aug. 6 after the open-market sale was completed on Aug. 5 at $41.30 per share.
Also on Aug. 5, he exercised stock options for 500,000 additional shares of Tyson Foods at the exercise price of $16.35 per share. The options were about to expire in November if not exercised. The options were part of his compensation package in years past.
The 61-year-old Tyson’s direct holdings in Tyson Foods after these two transactions stood at 2,054,555 shares with a market value of $86.435 million at the close of business Thursday (Aug. 6). This doesn't include his indirect stock holdings in the company's retirement plan.
Tyson Foods shares (NYSE: TSN) closed at $42.07 on Thursday, up 67 cents ,or 1.62% higher than the prior-day close. For the past 52-weeks the share price has ranged from $36.12 to $45.10.