A Lumentum SVP sold 7,803 shares at a weighted average price of $847.33, below the recent $879.28 close.
A Lumentum Holdings Inc. (NASDAQ:LITE) senior vice president and general counsel sold 7,803 shares worth $1.6 million over two days, based on a weighted average price of $847.33. The stock closed at $879.28 on August 20, near recent highs.
The sales included 1,904 shares under a pre-arranged Rule 10b5-1 trading plan adopted in February. Another 5,899 shares were sold non-discretionarily to cover tax obligations from restricted stock unit vesting. The executive retains 38,170 shares, a 0.05% stake in the $68.4 billion company.
Lumentum, a leader in optical and photonic products, employs roughly 10,562 workers globally. The company’s market capitalization stands at $68.4 billion.