Smithfield director sells $7.9 million of company stock
April 22, 2011
by Meat&Poultry Staff
SMITHFIELD, Va. – Wendell Murphy, a Smithfield Foods Inc. director since 2000 and former CEO of Murphy Farms Inc., a Rose Hill, N.C.-based hog producer bought by Smithfield Foods, sold Smithfield shares worth $7.90 million, adding to $3.76 million he liquidated last week, according a Securities and Exchange Commission filing.
A recent SEC filing says Murphy sold 340,000 shares in the company at $23.26 a piece to pocket. As a result, Murphy now owns only 4,000 shares worth an estimated $93,240, based on the stock's April 21 closing price of $23.31 per share.