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.
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