Sprint Nextel CEO Daniel Hesse spent $281,600 on company stock last week and so far, he’s in the black.
Hesse, who spent 23 years of his career at AT&T (T), wasn’t a particularly active buyer or seller of Sprint stock in recent years.? The latest activity marks his third transaction this year, making his habits more interesting.
Hesse recently bought Sprint (S) shares at an average price of $2.82 according to a Nov. 9 Securities and Exchange Commission filing. The stock was trading Monday afternoon at $2.88, down 3 cents, or 1%. That puts him ahead by about $6,000, or more than 2%, on the 100,000 shares he bought. Better than a certificate of deposit, albeit early returns and on paper.
Hesse, 58,?took the helm at Sprint in December 2007. His other two transactions this year:
- On February 11, Hesse sold 114,763 shares he owned directly at $4.51 to cover tax withholding requirements, leaving him with more than 2.6 million shares.
- On February 23, Hesse received 965,000 shares as part of the company’s stock incentive plan, boosting his holdings to nearly 3.6 million shares.
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