A Lumentum VP Just Parted With $10 Million in Stock. Here's What Long-Term Investors Should Know
The majority of these shares were withheld for tax obligations tied to restricted stock unit vesting, while the remainder was sold under a pre-arranged trading plan.
Overview
Vincent Retort, vice president of global reliability and quality at Lumentum Holdings Inc. (NASDAQ:LITE), disposed of 12,566 shares of common stock on August 19 and August 20, according to a recent SEC Form 4 filing.
Transaction value based on SEC Form 4 weighted average sale price ($851.01); post-transaction value based on the August 21 market close ($866.71).
Details
Lumentum Holdings Inc. is a global leader in optical and photonic product manufacturing with a market capitalization of $68.4 billion and approximately 10,562 employees. The company leverages advanced photonic technologies to address the growing demand for high-speed data transmission and industrial laser applications, positioning itself at the intersection of telecommunications infrastructure and emerging industrial automation trends. With TTM revenue of $3.0 billion, Lumentum maintains a strategic focus on innovation and market expansion within the communication equipment sector.
Source
Originally published at www.fool.com.