This week, two LinkedIn Corp (NYSE:LNKD) insiders completed stock dispositions. Company Director and 10% owner, Reid Hoffman, was the first to unload stock on Wednesday, selling 82,369 shares of Class A Common Stock for a weighted average price of $170.08 per share and 42,631 share for $171.34 per share. Furthermore, the sale was executed indirectly through the Reid Hoffman and Michelle Yee Living Trust, of which the insider serves as trustee. Also, the disposed shares of Class A Common Stock were issued upon conversion of Class B Common Stock shares, as elected by Hoffman.
The firm’s Chief Executive Officer, Jeff Weiner, followed a similar procedure of stock conversion prior to executing his sale, directly, yesterday. The insider unloaded 110,794 shares of Class A Common Stock, for a price of $175.16 per share. This is one of many stock dispositions to be closed by Weiner this fiscal year, as just three weeks ago he sold 37,206 company shares for a price of $175.02 per share.