Former Fresh Del Monte president sells off new shares
May 16 , 2017
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Within a week of acquiring new shares in Fresh Del Monte Produce (NYSE: FDP) through performance stock units (PSUs), director and former company president Hani El-Naffy offloaded almost all of them.
The transactions came after shares fell just shy of a 12-month low of US$52 on May 3, with a fall of around 13% on May 2 prompted by lower than expected earnings.
According to Securities and Exchange Commission (SEC) filings, on May 4 El-Naffy acquired 175,167 shares through PSUs but on the same day he sold 69,119 of them for US$3.64 million.
On May 9 he then sold 106,044 shares at a slightly higher price per share, receiving US$5.74 million from the transaction.
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