Art Beattie, Executive Vice President and Chief Financial Officer at the Southern Company (NYSE:SO), disposed of 13,654 shares of Southern Company Common Stock, indirectly, on Thursday. The sale was executed through the use of stock options and Beattie paid a price of $31.39 per share. Although this is the Executive VP’s first stock sale of the fiscal year, other insiders have reported significant dispositions throughout Q1.
At the beginning of May, the President and Chief Executive Officer of Southern Company, Mark Crosswhite, sold 22,460 shares of Common Stock, also exercising a stock option, and paying $45.15 per share. Just a few days prior, Comptroller Ann Daiss completed various dispositions, unloading 14,652 shares of Common Stock for a price of $46.50 and 9,004 shares for $46.00 per share.
On another note, the past quarter showed some change amongst shareholders, as new hedge funds entered a stockholding position at the $39.2 billion market cap firm. Arrowstreet Capital, the hedge fund run by Peter Rathjens, Bruce Clarke and John Campbell now holds the strongest position, with 617,457 shares, worth $27.1 million.