Micron CEO Sells $29 Million of Stock at Highs; Is Sanjay Mehrotra’s Selling Over?
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Micron Technology shares dropped nearly 9% to $820.53 on July 28, Eastern Time, marking a two-month low amid investor concerns over executive sell-offs. CEO Sanjay Mehrotra recently liquidated 40,000 shares for $29 million under a Rule 10b5-1 trading plan, following previous sales exceeding $46 million. While Mehrotra retains approximately 900,000 shares, the ongoing execution of this automated 12-month disposal plan, approved in January, creates persistent selling pressure. The market remains wary of the potential negative impact on Micron’s stock price as further periodic divestments continue through the remainder of the year.
TradingKey - Micron's CEO cashes out by selling shares at high prices, but the share reduction plan is not yet over.
On July 28, Eastern Time, Micron Technology ( MU) continued its downward trend, briefly falling below the $800 mark to a low of around $790, hitting a new two-month low. Micron's stock price ultimately fell nearly 9% to close at $820.53, making investors marvel at CEO Sanjay Mehrotra's high-price selling while raising concerns about potential future sell-offs.
Micron stock price chart, Source: TradingView
Under the Rule 10b5-1 trading plan, Mehrotra sold another 40,000 shares of Micron stock on July 24 at an average price between $906 and $965, cashing out approximately $29 million. Notably, Micron's stock price soared above $1,200 on the second trading day (June 25), hitting a record high.
Prior to this, Mehrotra had already sold over $46 million worth of Micron stock, but he still holds about 900,000 shares of Micron stock, with the potential for further selling. On January 30 of this year, Mehrotra was officially approved to execute the Rule 10b5-1 trading plan, meaning that brokers will automatically trigger the sale of corresponding shares in batches periodically over the next 12 months, which poses a potential drag on Micron's stock price.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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