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News Breaks
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October 6, 2009
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| 21:17 EDT |  | SMG |
| theflyonthewall.com: | Scotts Miracle-Gro COO sold 12,000 shares, Barron's reports | | Scotts Miracle-Gro (SMG) president and COO, Mark R. Baker, sold 12,000 shares for an average price of $42.13 on Sept. 30. After the sale, he held 64,400 shares, down from 76,400 shares. Baker's stake remains far less than 1% of the company's outstanding shares. The shares Baker sold represented the entire portion of a restricted grant that vested on Sept. 30. The other two-thirds of the grant vests on Sept. 30, 2010, and Sept. 30, 2011, respectively. Scotts' shares have risen 21% in the past six months. A Scotts spokesman says the sale was part of a stock plan and was consistent with Baker's personal system for managing his equity compensation. Lon Juricic, president of StreetInsider.com, says Baker's past sales have not been indicative of a short-term top in the stock. Juricic says, "The stock has also performed well. You can make an argument that he deserves to take a little bit off the table for all the hard work he's put in." Reference Link :theflyonthewall.com |
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