On Friday, LyondellBasell Industries NV (NYSE:LYB) saw two of its insiders sell their company shares. The firm’s Senior Vice President of Inter and Derivatives, Patrick Quarles, unloaded 60,144 Class A ordinary shares, directly, for a price of $105.00 per share. Bhavesh Patel, Executive Vice President, O & P-Europe, Asia and International (O&P-EAI) and Technology Business Segments, is the second insider to complete a disposition. The insider sold 20,486 Class A ordinary shares, directly, also for a price of $105.00 per share. Furthermore, both insiders exercised their use of stock options in order to complete the transaction.
Insider stock sales have been frequent at the $56.7 billion market cap chemical firm this year. In fact, Patel completed a disposition last Tuesday, where he unloaded 20,486 shares for $102.00 per share. The company’s Chief Executive Officer, James Gallogly, also sold a bulk of 83,334 shares of Common Stock at the beginning of the month, for a price of $98.53 per share.