Genesco CFO Jim Gulmi on Monday reaped some of the rewards of another good year for Genesco shares by exercising more than 15,000 stock options granted him in 2008 and then selling the resulting shares. The transactions netted Gulmi a little more than $700,000. Gulmi's move comes a week after a trading plan set up by Chairman, President and CEO Bob Dennis unloaded more than $500,000 worth of shares. Genesco (Ticker: GCO) has climbed more than 30 percent in 2013.
A stock trading plan set up last year by Genesco Chairman, President and CEO Bob Dennis last week unloaded $550,000 worth of his stock, trimming his holdings in the company by about 3 percent. The sale came shortly after Genesco reported so-so third-quarter numbers. The company's stock (Ticker: GCO) has run up about 14 percent in the past three months and has climbed almost 30 percent year to date.
Jeremy Ford, chairman of the board at local auto insurer First Acceptance, let his wallet do some talking late last week, spending almost $480,000 to add more than 250,000 shares to his holdings. The move boosted his direct stake in the Green Hills-based company by 12 percent to 2.3 million shares. Through his family's ownership of several other entities, Ford also is deemed to be the beneficial owner of about half of First Acceptance. The thinly traded shares of the company (Ticker: FAC) are up more than 40 percent this year but are still down 40 percent since late 2008.
LifePoint Hospitals Chairman and CEO Bill Carpenter last week cashed in some of his long-term incentive compensation, exercising 40,000 stock options that would have expired next February and selling the resulting shares. His profit on the transactions topped $725,000. The move comes after LifePoint shares (Ticker: LPNT) rallied nicely in the second half of October. They're now up about 35 percent this year.
Over at HealthStream, Senior VP Ed Pearson made a similar move late last week. His trading plan exercised 7,000 of his options and then sold the shares. Pearson's take on the deal was about $210,000. HealthStream (Ticker: HSTM) has yielded some ground of late but is still up almost 40 percent in 2013.
Clarcor board member (and former Vanderbilt Owen School of Graduate Management dean) Jim Bradford last Thursday cashed in a number of the stock options granted him between 2006 and 2010. The strike prices for the almost 39,000 options ranged between $25 and $35; selling the shares that resulted from their exercising generated Bradford a profit of more than $920,000. Since bottoming out at about $23 in early 2009, Clarcor shares (Ticker: CLC) have risen almost 150 percent.
A trading plan set up by Tractor Supply CFO Tony Crudele on Tuesday exercised 14,000 options granted him in early 2011 and sold the resulting shares. Crudele's profit on the transactions tops $769,000. Tractor Supply shares (Ticker: TSCO) are up some 55 percent so far in 2013 and are up nearly tenfold since the big market bottom of March 2009.
Two senior executives at Cracker Barrel Old Country Store — one of them preparing to retire — last week sold more than $3.4 million worth of their shares in the restaurant and retail company, which are trading just off their all-time highs (Ticker: CBRL) and are up more than 60 percent year to date.
Executive Vice President and Chief People Officer Doug Barber — who in August said he plans to leave the company in January — was the bigger seller of the two, unloading his entire stake of almost 21,000 shares on Friday. The sale grossed him almost $2.2 million. Also selling a lot of stock was Edward Greene, Cracker Barrel's senior VP of strategic initiatives. Greene, who joined the company eight years ago from purchasing co-op Restaurant Services Inc., sold about 60 percent of his holdings for a total take of almost $1.3 million.
The sales by Barber and Greene comes as Cracker Barrel's board is in the midst of a third straight contested proxy fight with Sardar Biglari, the chairman of the holding company that controls Steak 'n Shake and owner of 20 percent of Cracker Barrel. Biglari recently called on the board to pay a massive special dividend, a demand the company will let shareholders vote on in an advisory capacity.
The fact that Dollar General shares are changing hands at record highs hasn't escaped Chief Merchandising Officer Todd Vasos. On Tuesday of this week, the 51-year-old Vasos sold more than 23,000 of the 36,000 shares he owned in the company for more than $1.3 million. Vasos joined Goodlettsville-based Dollar General (Ticker: DG) in late 2008 from Longs Drug Stores.
A quartet of Brookdale Senior Living insiders — including the company's former CEO — have in the past week sold chunks of their stock holdings, generating almost $8 million. The biggest sale came from Bill Sheriff, who led the Brentwood-based company until this past February and still sits on its board of directors. He hit the sell button on 200,000 shares worth more than $5.3 million and gifted another $1.1 million worth. (He still owns more than 640,000 shares of Brookdale (Ticker: BKD), which have given up 11 percent in the past month but are still up slightly year to date.
Also lightening their company stakes since last Friday were director James Seward and Chief Administrative Officer Bryan Richardson, who both sold 40,000 shares for about $1.1 million, and COO Gregory Richard, who sold more than 14,000 shares for about $400,000.
SEE ALSO: Other noteworthy insider transactions from this summer
POSTDATA: WARRANTY DEEDS