Nextel Chief Sells More Stock
Nextel (NXTL Quote) Chief Tim Donahue continues to sell stock.
The CEO of the Reston, Va., walkie-talkie pusher sold 100,000 shares Tuesday, according to a filing with the Securities and Exchange Commission. The sale netted him $2.8 million and brings Donahue's 2004 stock-sale take to $32.8 million, going by filings and Yahoo! Finance.
Donahue filed a so-called 10b5-1 plan in May, indicating he planned to sell 1.4 million Nextel shares over a year.
"Nextel's momentum continues to grow as we post strong financial results that reflect our status as a leader in the industry," Donahue said at the time of his May filing. "I am very confident about the company's future prospects. I am adopting this trading plan upon the recommendation of my advisers as a way of achieving prudent diversification of my family's investments." ...
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