Robert Powell Sells $19 Million in USA Truck Stock

The single largest insider shareholder in USA Truck Inc. of Van Buren sold 800,000 shares of his holdings Aug. 17.

Robert Powell, chairman and CEO of USA Truck, collected $23.75 per share, or $19 million. The stock has traded as high as $29.89 as recently as late July, after a 52-week low of $10.25.

Before the sale, he held 2.1 million shares, or about 22 percent of the company’s shares.

Powell said he’s been in the business for 40 years, so he’s going to start cashing in some his options a little at a time, as allowed.

Also that day, Jerry Orler, USA Truck’s president, sold 200,000 shares worth $4.75 million. He now only has about 202,000 shares left, according to the company’s proxy statement.

The sale of Powell’s and Orler’s stock was part of a larger companywide initiative to sell 3 million shares and raise money for some projects, Powell said.