Overstock CEO Dumps 500K Shares In Open Market, Shares Tumble

Overstock.com Inc OSTK shares took a dive midday following Form 4 filing that shows CEO Patrick Byrne sold 500,000 shares.

According to the filing, Byrne sold 250,000 shares sold on May 13 at $13.3316. The shares were sold in multiple transactions at prices ranging from $12.40 to $13.905 per share.

Then on May 14, he sold another 250,000 shares for at $12.8447. Again, the shares were sold in multiple transactions at prices ranging from $12.60 to $13.085 per share, inclusive.

Overstock's stock was trading down 15.1 percent at $10.95 per share at time of publication.

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