"The boss of Chicago's largest locally headquartered bank cashed out more options in May and December than the number of shares he currently owns."
December 13, 2021 https://www.chicagobusiness.com/finance-banking/northern-trust-ceo-michael-ogrady-sells-11-million-stock
Nice timing lol
Openinsider.com says the CEO sold 144,810 shares for $17.1 million at an average price of $118 in 2021.
The Chief Investment Officer also sold 30,255 shares in 2021.
Openinsider.com, https://finviz.com,
Insider trading! SEC Rule 10b-5 prohibits insider employees from using confidential corporate information to reap a profit (or avoid a loss) by trading in the Company's stock.
The huge stock sale, and cash comp increase, shows a lack of confidence in NTRS
"Pay for Northern Trust CEO O'Grady jumps 33%. Direct compensation for Michael O'Grady was $12 million in cash and stock, up from $9 million in 2020—for a year that began with layoffs and surviving workers being asked to tighten their belts."
Pay boost for underperformance?
March 28, 2022 https://www.chicagobusiness.com/