Skechers executives sell off shares

Roger Mechan/iStock Editorial via Getty Images

• Skechers (SKX -6.0%) CEO, Robert Greenberg sold 1,68,750 shares on March 1 and 2, 2022.
• COO,  David Weinberg sold 1,12,500 shares on the same dates.
• Shares sold were approximately $6.1M.
• Stock trades low as March 4, down 6%.
• Look at company's ownership stake here.

Comments

[Nevin_S]

@algo41 These are shares held by officers of the company for their benefit. The sales were to personal income tax liabilities that accrued from the grant of shares.

[Nevin_S]

Shares these guys are selling are stock grants they received as compensation. Looks like overall share count increased by approx 20 million shares year over year so they only sold a fraction of what they received. Nonetheless, it would be nice if they would do something to return capital to shareholders instead of just giving themselves a nice year-end bonus.

That said, market cap is now less than one year's annual revs. Still have over $900 MM in cash on the balance sheet or more than $5.70/share so that market cap of $5.8 Bil is really closer to $5 Bil for the enterprise value of the company.

[algo41]

@Nevin_S In the Form 4's I reviewed, some of shares are to pay taxes, but far from all. I am surprised they can sell shares this much into the quarter without the sale being pre-planned. Or is it?

[DW2340]

Damnit! Shares are cheap you’d think they’d be buying. Not helping share price in this market carnage

[FlyOnTheWallStreet]

@DW2340 they do this pretty consistently…wouldn’t take it as a sign either way but it was one of the complaints the recent activist hedge fund raised (i.e. why not have a dividend instead of selling shares).