NEW YORK (Thomson Financial) - Bear Stearns Companies Chairman James Cayne sold 5.66 million shares of the company's common stock, according to a filing with the U.S. Securities and Exchange Commission.
The share sale, which occurred on March 25, included one direct sale of 5,612,922 shares and the other an indirect sale of 45,669 shares by Cayne's spouse, according to the filing.
The shares were sold at $10.84, valuing the sale at $61.3 million.
The stock was trading at $10.66 in the after-hours session, down 5.1% from the regular session close of $11.23. Tomi Kilgore tk1 COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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