A large exercise of company stock options by Timothy A Massa, Senior Vice President at Kroger (NYSE:KR) was disclosed in a new SEC filing on April 24, as part of an insider exercise.
What Happened: The latest Form 4 filing on Wednesday with the U.S. Securities and Exchange Commission uncovered Massa, Senior Vice President at Kroger, exercising stock options for 29,970 shares of KR. The total transaction was valued at $531,967.
During Thursday's morning session, Kroger shares down by 0.12%, currently priced at $56.08. Considering the current price, Massa's 29,970 shares have a total value of $531,967.
Unveiling the Story Behind Kroger
Kroger is one of the largest grocery retailers in the United States with more than 2,700 stores across a portfolio of over 20 supermarket banners. The company touts its ingrained position across US communities, citing that it is a top-two grocer in most of its major market areas. Over one fourth of Kroger's roughly $110 billion in nonperishable and fresh food sales (about 75% of revenue) stems from its private-label portfolio, of which the company manufactures about 30% of units via its 33 food production plants. The firm also operates fuel stations and pharmacies at 60% and 80% of its locations, respectively.
Unraveling the Financial Story of Kroger
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