Yesterday, eight insiders at Level 3 Communications, Inc. (NYSE:LVTL) unloaded company shares simultaneously. While many of the sales were small in volume, some stood out, such as the firm’s President and Chief Operating Officer, Jeffrey Storey, who sold 33,300 shares of Common Stock, directly, paying a price of $43.85 per share. This disposition is the first to be executed by the COO since April, and his company holdings now amount to 485,376.
Sunit Patel, Executive Vice President and Chief Financial Officer at the $10.5 billion market cap communication service provider, also unloaded 19,175 shares of Common Stock, directly, at the same weighted price as Storey. Concluding Patel’s sale, the insider now owns 341,261 company shares.
Another insider who sold off 8,260 shares, directly, for $43.90 per share, is John Waters Jr., Chief Technology Officer at Level 3 Communications. Waters’ last large stock sale was in February of this fiscal year, when he disposed of 10,250 shares of Common Stock, paying $36.78 per share.