Business
Corporate Travel Management (ASX:CTD) shares sink after CEO’s $31.5m share sale
The Corporate Travel Management Ltd (ASX: CTD) share price has been a poor performer on Wednesday.
In fact, in afternoon trade, the corporate travel booker’s shares are the worst performers on the S&P/ASX 200 Index (ASX: XJO).
At the time of writing, the company’s shares are down 6% to $20.90.
Why are Corporate Travel Management’s shares sinking today?
The Corporate Travel Management share price has come under pressure today after it announced that its Chief Executive Officer, Jamie Pherous, has offloaded a large number of shares.
According to the release, Mr Pherous disposed of 1.5 million of the company’s shares via an on-market trade on Tuesday.
The CEO was able to command an average of $21.00 per share sold, which…
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