February is the time for selling for executives and other insiders at Stryker Corp., the Kalamazoo, Mich.-based device manufacturer.
Michael Mogul, president of the Stryker Orthopaedics unit, exercised a 60,000-share options grant on Feb. 18 and promptly sold off all but 8,125 of the newly acquired shares over the next two days. It cost the executive just over $970,000 to purchase the 60,000 shares at $16.21 each, resulting in net proceeds of $1.78 million with an average sale price of $53.08 a share. Mogul still owns about 25,000 shares of Stryker stock, including about 4,600 shares held in a 401(k) retirement account.
Stryker board member Donald Engelman similarly cashed in on a 20,000-share options grant awarded as part of his compensation as an outside consultant to the company, producing net proceeds of about $736,000. In addition to his work at Stryker, Engelman is a professor of molecular biophysics and biochemistry at Yale University.
Ronda Stryker, also a director and granddaughter of company founder Homer Stryker, meanwhile, continues to whittle down her stake, selling a total of 110,000 shares in recent days. The trades, executed on Feb. 18 and Feb. 22 at around $53.09 a share, generated over $5.8 million in gross proceeds — lifting her 2010 total to nearly $24 million.