GM Execs Sell 205,000 Shares

General Motors(GM Quote) executives unloaded more than 200,000 shares of the troubled automaker in the past few days.

Retiring Vice Chairman Bob Lutz sold 81,360 shares at $1.61 each, for proceeds of $130,990. Vice Chairman Thomas Stephens and Group Vice Presidents Carl-Peter Forster, Ralph Szygenda, Gary Cowger and Troy Clarke sold smaller amounts, at prices ranging from $1.45 to $1.61. The total number of shares sold was 205,000.

GM has received $15.4 billion in government loans and faces a June 1 deadline to finish restructuring or go into Chapter 11 bankruptcy protection. Chief Executive Fritz Henderson said Monday that bankruptcy is more probable.

GM shares closed Monday at $1.44, down 17 cents.