Wet Seal CEO Files to Sell Her Stock
Wet Seal Inc. Chief Executive Kathleen Bronstein filed with securities regulators Tuesday to sell 130,054 shares of the company’s stock, which hit a 52-week high last week.
In her Form 144 filed with the Securities and Exchange Commission, Bronstein said she would sell the shares, which have a market value of about $4 million, around Feb. 20. The filing listed PaineWebber Inc. as the broker for the sale.
Bronstein previously sold 50,000 shares Jan. 22 in an option-related transaction for $31.56 to $31.63 a share.
Shares of Wet Seal, a Foothill Ranch owner and operator of a casual clothing retail chain, closed Tuesday at $32.31 a share, down $2.69 a share. Last Thursday, the stock reached a 52-week high of $37.50 a share.
A Form 144 allows for the sale of restricted stock, but it isn’t a commitment to sell.