SOUTHERN Insiders Sell $502,000 of Stock on Same Day
Two Southern Company executives sold a combined 5,666 shares on 3 September at just under $89 apiece, according to Form 4 filings.
Two insiders at Southern Company (SO) sold shares in the utility on the same day, together disposing of about $502,343 worth of common stock in open-market transactions dated 3 September, according to Form 4 statements of changes in beneficial ownership filed with the SEC.
Matthew M. Kim sold 1,400 shares at $88.87 each. After the transaction he held 4,988 shares of Southern Company common stock.
Peter P. Sena III sold the larger of the two positions, disposing of 4,266 shares at $88.59 apiece. He retained 26,935 shares following the sale.
Both transactions carry code S, which identifies an open-market sale, as opposed to code P for an open-market purchase. Codes A, M and F, which cover grants, option exercises and tax withholding, are routine compensation events and did not feature in these filings.
Clustered filings on a single day can draw attention because they show more than one insider acting at the same time. The filings themselves give no reason for the sales, and executives sell shares for a wide range of personal reasons, including scheduled trading plans.
The combined amount is modest against the market value of Southern Company, one of the largest regulated utilities in the United States. Both insiders continue to hold shares in the company after the transactions.
This is a factual summary of a public filing or press release, not investment advice. Verify all figures against the source before acting on them.
