Jefferies Financial Group Inc. (NYSE:JEF) announced that its CEO, Rich Handler, sold 1.5 million shares of Jefferies stock on April 24, 2024 at $43.50.
The sale was made to facilitate the purchase of a personal watercraft and to pay tax liabilities.
In the 34 years since he joined Jefferies in 1990, Mr. Handler has received about 70% of his compensation in Jefferies stock and, other than for tax purposes and charitable donations, has never sold any stock.
Following this sale, Mr. Handler owns on a fully diluted basis approximately 19.25 million Jefferies shares.
The latest sale represents about 7% of Mr Handler’s total holdings.
Mr. Handler stated:
“Selling my shares today was a gift to myself and my family and I do not intend to sell any more shares. I remain extremely positive about Jefferies and fully committed to helping us continue to build the best independent, global and full-service investment banking firm.”