Roku’s CEO has offered $ 270 million value of shares up to now this yr as shares rise
David Orrell | CNBC
Anthony Wood, CEO of Roku, has sold more than $ 270 million worth of shares in the company so far this year – more than in the first seven weeks of the year than in all of 2020. All sales were in one established trading plan.
Roku was on fire last year. The stock is up nearly 270% in the past 12 months and around 40% since the start of the year. The company reported quarterly results Thursday that exceeded Wall Street estimates. The company made 49 cents a share, compared to a refinitive forecast of 6 cents a share loss. Roku’s sales were $ 650 million, which is an estimate of $ 615 million. In mid-day trading, stocks rose 3% on Friday.
The company, which has benefited from viewers and advertisers switching from traditional linear television to streaming, has a market capitalization of $ 57.5 billion, up from $ 15.2 billion in February 2020 and $ 5.8 billion Dollars in February 2019.
According to securities filings compiled by OpenInsider, Wood sold shares worth $ 272,632,403 in four separate transactions in 2021. In 2020, Wood sold $ 218,675,340, according to the filing.
Roku executives, including Wood, receive compensation made up of salary and share awards. According to a 2020 proxy statement from Roku, Wood decided before the end of 2018 that for the 2019 calendar he would reduce his annual base salary by $ 500,000 in exchange for monthly awards of vested stock options.