3 Comments

Summary:

Barnes & Noble retail CEO Mitchell Klipper sold off about two-thirds of his shares in the company between August 22 and August 26.

Barnes & Noble store
photo: Flickr / keone

Barnes & Noble’s retail CEO, Mitchell Klipper, has sold off a large portion of his stock in the company in the past few days, according to an SEC filing.

Klipper sold about 400,000 shares, roughly two-thirds of his total stock in the company, between August 22 and August 26, raising over $5.5 million.

Barnes & Noble announced in its earnings report last week that it had decided not to spin off the company’s struggling Nook division, and chairman Leonard Riggio said he is no longer pursuing a plan to take the retail stores private. According to the Wall Street Journal, “a company spokeswoman said on Monday that during the strategic review, senior management had been prevented from selling stock. The prohibition against stock sales was lifted last week” when Barnes & Noble released its earnings report.

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  1. Goodbye, Barnes and Noble. I shall miss your comfy chairs, warm coffee and free book samples!

  2. In 2010 Mitch Klipper received a restricted grant of 500,000 restricted shares as a retention bonus tied to the Liberty Media deal. Those shares vested on April 1, 2013.

    In almost two decades with the company Klipper has been granted stock numerous times, and like most people paid in stock he has always sold them as soon as possible.

    Soooo… he sold these as well.

    Where’s the story?

  3. This doesn’t mean Barnes and Noble is going anywhere. There are other options. Those in the industry know what’s going on and what can be done. It’s kind of nervy for anyone to count them out. Get the facts first.

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