Jefferies disclosed Rich Handler's stock transaction and said its CEO had offloaded shares 'to facilitate the purchase of a personal boat and to pay tax obligations.'
Rich Handler recently offloaded a boatload of Jefferies Financial Group stock. The investment bank on Wednesday disclosed the transaction in both a press release and Securities and Exchange Commission filing, saying its CEO had done so "to facilitate the purchase of a personal boat and to pay tax obligations." The sale involved 1.5 million shares and equated to $65.25 million, according to Jefferies. Handler said in a statement that he "do not intend to sell any further shares.
Fertitta also owns a larger, 252-foot yacht that boasts a pool and helipad, according to Boat International. That newer vessel reportedly came from Feadship. "Haha! Maybe the best advertising for @jefferies is that our customers sell us their ‘smaller boats’ after they can easily upgrade! @TilmanJFertitta!" Handler wrote in a Thursday tweet that included an image of the book "Where Are the Customers’ Yachts? Or A Good Hard Look at Wall Street" by Fred Schwed Jr.
Business reached out to Jefferies for comment.
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