Jabil officers cash in stock near 52-week high
By JEFF HARRINGTON
Published June 27, 2005
In outperforming many of its peers, Jabil Circuit has gained a reputation as an adept player that strikes while market opportunities are hot.
Top executives within the St. Petersburg electronics manufacturer put that good timing to work for some personal gain last week.
Four Jabil leaders, including chief executive Tim Main, sold 185,000 shares in company stock Wednesday, the same day Jabil shares hit a 52-week high on news of strong third-quarter earnings and a healthy outlook for the next two quarters.
Main sold 15,000 shares at between $30.50 and $30.55 apiece, receiving more than $450,000. Jabil chairman William Morean sold 100,000 shares at $30 apiece for $3-million. And chief financial officer Forbes Alexander sold 20,000 shares at a strike price of $30 to $31 apiece, or more than $600,000.
But none of them topped vice chairman Thomas Sansone in the timing department. He sold 50,000 shares at the hefty price of $31.50 apiece, for nearly $1.6-million. The 52-week high that the stock hit that day? $31.52 a share.