Delta (DAL) was in the news today over whispers about the firm’s intention to buy US Airways (LCC) or AMR (AMR), the parent company of American Airlines.
Two Delta executives, meanwhile, have been selling some of the shares they hold in the company. CFO Hank Halter sold 20,000 shares for about $207,500, and Executive VP Glen Hauenstein sold 50,900 shares for $529,400. The two executives recently had a large chunk of restricted stock vest, so the sales aren’t necessarily a huge surprise, or a glaring red flag, notes InsiderScore.com.
“The timing, however, is a little curious,” says an InsiderScore.com analysis. “Each executive had shares withheld to cover taxes when the restricted stock vested, so these weren’t tax sales. We understand the want and/or need to turn some stock-based compensation into cash, but with the potential for another round [of] big-time consolidation in the industry the major story amongst airlines right now, we’re a little surprised to see top executives taking money off the table.”
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