Former CEO Sells Most of His Stake in Advanced Photonix

Hayden Leason, former chairman and chief executive of Advanced Photonix in Camarillo, has sold almost all of his 21.3% stake in the company.

Leason sold 2.32 million common shares at an average price of $4.78 a share between Jan. 10 and 19, according to papers filed with the Securities and Exchange Commission.

He now holds 87,600 shares in Advanced Photonix, a developer of optoelectronic semiconductor-based components.

Leason became a director of Advanced Photonix in July 1995 and served as chairman from October 1996 until October 1997.

He was chief executive from November 1996 until October 1997.