Philippe Dauman, who resigned as CEO of Viacom on Saturday, is wasting no time selling off stock in the troubled media company.
In a filing with the SEC on Friday, Dauman said he sold 166,169 shares on Wednesday for an average price of $41.778 and 86,883 shares on Thursday at $41.5112. Proceeds from those two sales is $10.6 million.
In a previous filing, Dauman disclosed that he’d sold 427,946 shares on Monday and Tuesday worth $17.8 million.
Altogether he’s sold stock worth $28.4 million
Dauman still owns 750,280 shares and received a golden parachute worth at least $72 million when he resigned his post after losing a battle for control of the company to the Redstone family, which owns a majority of the voting stock..
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.