Glass Sells 300K Shares

On Nov. 15, David Glass, chairman of the executive committee of the board of Wal-Mart Stores Inc., filed a plan with the U.S. Securities and Exchange Commission to sell 300,000 shares of the company’s stock. The estimated value of the sale is $13.54 million.

Glass, who is a former CEO of the retail giant, is the fifth largest shareholder in the company with 875,028 shares as of Aug. 12. The sale would leave him with 575,028 shares.

In 2000, Glass bought the Kansas City Royals baseball team for $96 million. He is the principal owner of the team, and his son Dan Glass is vice-president. The Royals had the second-lowest payroll in Major League Baseball this year with $36.88 million.