The trading plan set up by Tractor Supply Executive Chairman Jim Wright last week unloaded a big chunk of his holdings in the Brentwood-based farm and ranch products retailer. The plan, which was set up last November before Wright turned over his CEO title to Greg Sandfort, exercised 160,000 stock options granted in early 2007 and then sold the resulting shares on the open market. The resulting proceeds reached almost $11.5 million.
The board of Tractor Supply and former CEO Jim Wright put pen to paper this week on the newly installed executive chairman's pay package for 2013. Wright, whose 2011 cash-and-stock pay package topped $7.4 million, will be paid a base salary of $400,000 to help Greg Sandfort make the transition into the CEO's chair. He will not be eligible for any bonus payments.
SEE ALSO: Sandfort's salary bump
Jim Wright was selling big time again Wednesday. The stock plan set up in February by the Tractor Supply boss unloaded more than 100,000 shares he got by exercising options that would have expired in 2015. Wright's profit on the sales was $8.4 million, which means the 62-year-old this week pocketed more than $14 million in gains. Can't really blame him, though: Tractor Supply shares (Ticker: TSCO) on Thursday topped $100 for the first time ever and the company is now worth more than $7 billion.
Tractor Supply Chairman and CEO Jim Wright last week cashed in about a sixth of his stock holdings in the booming specialty retailer. The 10b5-1 trading plan Wright launched about eight weeks ago took in more than $6 million from the sale, which leaves Wright still owning about $31 million worth of Tractor Supply. Shares of the Brentwood-based company (Ticker: TSCO) are up almost 40 percent so far this year.
Also last Thursday, the trading plan set up in February by Tractor Supply CFO Tony Crudele exercised 5,000 options and then sold the underlying shares for a profit of about $375,000.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS