IP CEO John Faraci sells 10,000 shares of IP stock Jan. 2, at average price of US$48.58/share, after receiving 179,495 IP shares Jan. 1 under company's performance share plan, based on SEC filing; Faraci has accumulated more than 1.75 million IP shares
January 6, 2014
– International Paper Co. CEO John Faraci has sold 10,000 of his shares of IP common stock at an average price of US$48.58/share on Jan. 2, according to a filing with the U.S. Securities and Exchange Commission (SEC).
The transaction occured a day after Faraci received 179,495 shares of IP common stock under the company's preformance share plan, which grants shares over a three-year performance period based on pre-established performance objectives.
The net result is that Faraci now directly owns approximately 1,752,533 shares of IP common stock, based on the Jan. 2 SEC filing.