Sprint Nextel CEO Daniel Hesse spent $281,600 on company stock last week and so far, he’s in the black.
Hesse, who spent 23 years of his career at AT&T (T), wasn’t a particularly active buyer or seller of Sprint stock in recent years.� The latest activity marks his third transaction this year, making his habits more interesting.
Hesse recently bought Sprint (S) shares at an average price of $2.82 according to a Nov. 9 Securities and Exchange Commission filing. The stock was trading Monday afternoon at $2.88, down 3 cents, or 1%. That puts him ahead by about $6,000, or more than 2%, on the 100,000 shares he bought. Better than a certificate of deposit, albeit early returns and on paper.
Hesse, 58,�took the helm at Sprint in December 2007. His other two transactions this year:
- On February 11, Hesse sold 114,763 shares he owned directly at $4.51 to cover tax withholding requirements, leaving him with more than 2.6 million shares.
- On February 23, Hesse received 965,000 shares as part of the company’s stock incentive plan, boosting his holdings to nearly 3.6 million shares.
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