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BENNETT CLEARS OUT INTUIT STOCK
Former Intuit CEO Stephen Bennett did some summer house cleaning on his portfolio last month as he cashed out Intuit stock that he acquired through the exercise of options. Bennett purchased the 304,721 shares through the option exercise for $6.75 million, and sold them for $9.15 million in an automatic sale. The option price was $22.16 per share and the sale price $30.04 each, an 88-cent-per-share difference. He reported on September 2 that he owned no shares of Intuit stock directly. I don't know if that means he has used all his options or not. Automatic sales are generally used by executives to avoid potential insider trading issues.
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