Intuit founder
Scott Cook closed out 2012 by selling a bit more than $37.4 million in the company’s stock during the second half of December. For Cook, it was the largest amount of Intuit stock sold in a single month in more than two years. The largest block was 266,666 shares sold on December 16 for $16.5 million.
These were not automatic sales that are typical for many executives nor were the shares purchased via the recent exercise of options. He had 13,551,733 in shares at the end of 2012, With the stock trading above $61 a share, its current market value its more than $826 million. The executive who had the biggest gross from share sales for the year was Kiran Patel, EVP and GM of the small business group, who sold $37.1 million stock in several blocks during the year, but you can subtract about a third of that amount for the cost of exercising options. There was $7.2 million in cost for reported options exercised and two blocks of 125,000 shares each, which given the ranges of exercise prices reported per share we can conservatively average at a $25-per share for another $6.5 million in cost.
