For The 3rd Time, HP Exec Bill Veghte, Sells Another $10.5M in Stock

For The 3rd Time, HP Exec Bill Veghte, Sells Another $10.5M in Stock 
HP Exec Sells $10.5M in Stock Near Multiyear High
Bill Veghte, GM of HP’s Enterprise Group, exercised options and sold 256,761 shares in a planned sale.

By Grace L. Williams January 16, 2015

One Hewlett-Packard executive sold a ream of the personal-computing giant’s shares in the wake of multiyear high stock prices.

Bill Veghte, general manager of HP’s (ticker: HPQ ) Enterprise Group, exercised options and sold 256,761 shares for $10,473,165, an average of $40.79 each, from Jan. 2 through 9 in Rule 10b5-1 planned sale.

 

Regulatory filings show the options were exercised at $13.83 each and were set to expire Dec. 6, 2020, at the earliest. Veghte’s most recent previous transaction was on Dec. 18, when he exercised options and sold 90,900 shares in a planned sale for $3,500,000, an average of $39.02 each.

Veghte now directly holds 82,456 shares, a stake of less than 1% in HP.

Veghte is a former chief operating officer of HP and previous to that he was chief strategy officer and executive vice president of HP Software. Prior to joining HP, he spent two decades at Microsoft ( MSFT ) in leadership posts.

An HP spokeswoman writes in an email in response to a request for comment on the sale, “Like many executives, Bill participates in a 10b5-1 program as part of his diversification strategy. [The] trades occurred under that program.”