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O’Reilly Auto execs sell shares amid all-time highs

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Last edited 3:39 p.m., Feb. 18, 2019

As O’Reilly Automotive Inc.’s (Nasdaq: ORLY) stock price rose to new highs this month, a handful of executives made high-volume share sales.

The trades by three executives and one board member were made Feb. 12-13, when the company’s stock hit new 52-week highs of $378.64 and $379.91 per share, respectively. The company’s current stock high is $388.51, reached on Feb. 15, and ORLY shares were trading today at $388 as of 9:02 a.m.

Leading the stock sales was Greg Henslee, who on Feb. 12 bought and sold 50,000 shares. He utilized U.S. Securities and Exchange Commission code M, through which executives can execute their rights to buy shares at set rates and sell them at market prices, netting a profit on the difference. Henslee, the company’s executive vice chairman of the board, made $16.7 million off the transaction, according to an SEC filing.

Board Chairman David O’Reilly sold 40,000 shares on Feb. 12 for $14.9 million, while Chief Operating Officer and co-President Jeff Shaw made $1.1 million through a Feb. 12 sale utilizing the SEC code M, according to separate filings. Board member Jay Burchfield sold 1,500 shares for $563,880 on Feb. 13, according to an SEC filing.

O’Reilly Automotive’s multiple new 52-week highs follow the company reporting that revenue and net income were up for both the fourth quarter and the full year.

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Doreilly

Many would not know what Code M means. Would be helpful to explain that these are stock options to purchase ORLY shares and they were issued years ago and would have ZERO value today if the share price had not grown over the option period (generally 10 years). Options are used as an incentive for executives to manage the company in a way that is beneficial to all shareholders. Thank You.

Monday, February 18, 2019
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