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Recently retired executive Steve Mitchem made a $147,172 profit in a stock sale this week.
Recently retired executive Steve Mitchem made a $147,172 profit in a stock sale this week.

Great Southern officers execute strategic share sales

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Four Great Southern Bancorp Inc. (Nasdaq: GSBC) executives this week used their contractual rights to purchase stocks and turn around and sell them for a profit.

Under the U.S. Securities and Exchange Commission’s Code M rule, company officials may purchase shares at set rates. This week, the Great Southern officials did that and then sold them at market rates, according to SEC filings.

The top seller was former Chief Lending Officer Steve Mitchem, who retired earlier this month. He bought 10,500 shares at set prices for $403,946 and then sold them at $551,118 for a profit of $147,172.

Great Southern Vice President of Information Systems Linton Thomason bought 1,900 shares for $15,884 and then sold them at $99,307, netting $88,423, according to an SEC filing.

William Turner, chairman of the board, bought $43,316 worth of shares and then disposed of them for $90,355. That resulted in a profit of $47,039.

Vice President of Operations Douglas Marrs bought and sold 625 shares, netting a $14,560 profit, according to a filing with the SEC.

Great Southern last week reported first-quarter net income of $11.5 million, a nearly 18 percent increase from a year earlier.

GSBC shares were trading at $51.55 as of 10:23 a.m., compared with a 52-week range of $34.48 to $56.70.

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