Snapshot: Expeditors CEO Musser sells $10.7m worth of stock

As an old saying goes, when it rains it pours.

Jeff Musser, president and CEO of US-based 3PL Expeditors, on 13 November sold 120,000 shares at a weighted average price of $89.34, it emerged this week.

(Source seattleu.edu)

The total implied transaction value was $10.72m (click here for more).

(Source Yahoo Finance)

The company said in a Form 4 filing that:

“These shares were sold in multiple transactions at prices ranging from $89.00 to $90.05, inclusive. The reporting person undertakes to provide to any security holder of Expeditors or to the SEC, upon request, full information regarding the number of shares sold at each separate price within the range stated.”

A company veteran, he joined Expeditors in February 1983 and was later promoted to district manager in October 1989.

He was elected, the group says in its 10-K, “to regional vice president in September 1999, senior vice president and chief information officer in January 2005 and to executive vice president and chief information officer in May 2009. On December 19, 2013, Musser was appointed as president and CEO and was elected by the board of directors as a director, effective March 1, 2014.”

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