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Skechers executives sell off shares

Skechers Shoe shop front entrance

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.

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Comments (5)

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