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CINCINNATI -- David Dillon and Pete Williams, chairman/c.e.o. and s.v.p. of The Kroger Co. respectively, recently sold thousands of shares of the company's stock after acquiring them via stock options.
In a Form 4 filing with the U.S. Securities and Exchange Commission earlier this week, Williams disclosed the acquisition and sale of 9,000 Kroger shares on Oct. 16, for which he paid $22.23 each and sold for $29.13, netting about $60,000 before taxes. The sale was made pursuant to a pre-arranged trading plan set up on Oct. 3.
Company insiders can establish pre-arranged trading plans to avoid running afoul of rules that prohibit the buying and selling of shares while they're in possession of material, non-public information.
Williams' stock sale follows another reported acquisition and sale of 9,000 shares on Oct. 1. That sale netted him a bit less than $60,000 before taxes.
For his part, Dillon acquired and sold 35,000 shares on Oct. 5, netting about $237,000 before taxes.
According to the SEC filings, the options exercised by both executives were granted under Kroger's long-term incentive plan and were set to expire in April 2008.
Kroger operates more than 2,400 supermarkets and multi-department stores in 31 states, including multiple stores in the Dayton area.