SkyWest CEO Sells $5.7 Million in Stock
Russell A. Childs, CEO of SkyWest Inc., sold 50,500 shares worth approximately $5.7 million on July 28, according to an SEC filing. The transaction reduced his direct equity stake by about 13% and total beneficial ownership by around 12%. Despite the sale, he still holds a significant amount of stock directly (worth ~$38 million) and indirectly through a retirement plan. The company reported second-quarter revenue growth to $1.1 billion but saw net income decline due to rising fuel costs impacting its prorate business. SkyWest's CEO noted strong demand in both contract and pro-rate flying, with the company forecasting full-year earnings of around $11 per share. The stock price closed at $109.66 on July 29. The sale occurred after an earnings report and was executed across a range of prices from $111 to $114 in open market transactions, indicating the CEO's ongoing commitment to SkyWest despite trimming his stake.
Tickers: $SKYW
Topics: CEO stock sale equity exposure SEC filing