New York – Leonard Riggio, chairman of Barnes & Noble, has reportedly sold 2 million shares of company stock. According to Reuters, Riggio’s sale, reported in an SEC regulatory filing, lowers Riggio’s stake in Barnes & Noble to 26.3%.
After selling 2 million shares and donating 160,000 shares to a charitable foundation with his name, Riggio owns 15.75 million shares of Barnes & Noble stock. He remains the company’s biggest shareholder. The SEC filing indicates Riggio sold the shares on Dec. 10 at a price of $13.81 per share.