According to a new SEC filing, SiriusXM CEO Mel Karmazin has sold off another 7.6 million shares of the satcaster. Last Friday, Karmazin sold the shares for $1.83/each, bringing in $13.96 million in total for a net gain of $10.7 million. Karmazin still owns 8.82 million shares of the company.
Karmazin has continued to stick to his plan, announced back in February, to gradually sell of his shares of SiriusXM. Thus far, he has sold almost 32 million shares. Seeking Alpha notes that for each of the past three months, Karmazin has sold off shares in the middle of the month on two separate days, and each sale has been at a gradually lower price. In April, he sold 11.5 million shares at $2.20 each.