O'Reilly Automotive SVP nets $7.5M on stock sale

SBJ file

David Wilbanks traded tens of thousands of company shares this month.

An executive at O'Reilly Automotive Inc. (Nasdaq: ORLY) made millions of dollars this month through trading of company shares.

David Wilbanks, who serves as senior vice president of merchandise for the Springfield-based auto parts retailer, netted nearly $7.5 million on Aug. 13, according to a U.S. Securities and Exchange Commission filing. Wilbanks utilized SEC transaction code M, through which executives can buy shares at set rates and sell them later at market prices.

The trading involved 88,485 shares, according to the SEC filing.

Wilbanks has been an O'Reilly Automotive employee since 2012 and has worked in the auto parts industry since 1989, according to his bio page on the company's website. He took on his current SVP role in 2016.

Wilbanks is the third O'Reilly Automotive official to make a trade involving the company's stock in August to date, according to SEC filings.

Shari Reaves, senior vice president of human resources and training who has been an O'Reilly Automotive employee since 1993, sold 2,000 shares on Aug. 6 for $207,613, according to an SEC filing.

Another SEC filing indicates board member Maria A. Sastre, who is retired from Signature Flight Support Corp., sold 595 O'Reilly Automotive shares on Aug. 13 for $60,877.

In the second quarter, O'Reilly Automotive reported a 5.9% increase in revenue to $4.5 billion and a 7.3% jump in net income to $668.6 million compared with a year earlier. 

ORLY shares were trading at $101.30 as of 9:48 a.m., compared with a 52-week range of $73.11 to $104.86 per share. The 52-week high was set on Aug. 7.