Roger Farah, president and chief operating officer of Polo Ralph Lauren Corp., sold more than one-third of his stock in the company this week and converted it into almost $6.8 million in cash.
According to a Form 4 filing with the Securities and Exchange Commission, Farah sold 99,458 shares of Polo stock for an average price of $68.21 a share beginning on Aug. 10. Had those same shares been sold on July 10, when Polo’s stock closed at $50.54, they would have generated about $1.8 million less in cash.
The divestitures left Farah with just over 170,000 shares of Polo stock. Much of Farah’s stake has been acquired through stock grants and awards and the price paid for the shares isn’t known.
Jackwyn Nemerov, executive vice president of Polo, sold 16,859 shares of her stock in the company at an average price of $67.66 a share beginning on Aug. 6, converting the stock to about $1.1 million in cash. She remains the beneficial owner of 25,493 shares.
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