Walmart’s Marc Lore continues company stock selloff, cashes out $10.27 million

June marks the fourth consecutive month in which Walmart U.S. eCommerce CEO Marc Lore has sold a sizable number of shares in open market trading. The most recent transaction took place June 9 for 85,000 shares, sold at an average price of $120.88 for a total of $10.27 million, according to filings with the Securities & Exchange Commission.

Lore’s personal Walmart holdings totaled 2,075,532 shares following the recent transaction with a value of $249.25 million as of the close of business on Thursday (June 11). Since mid-March, Lore has cashed out more than $40.98 million of Walmart stock holdings, which he mostly acquired as payment from his ownership in Jet.com. Walmart acquired the e-commerce business in August 2016 for $3.3 billion. Lore has reduced his personal Walmart holdings by 340,000 shares in the past four months.

Lore must remain at Walmart for five years ending August 2021 to receive full payment for his Jet.com interest. As a top executive at Walmart, Lore also receives deferred compensation in the form of registered stock grants. The shares he has liquidated over the past four months are his personal shares, and not related to his executive compensation.

To put the recent share liquidations into perspective, it would take Lore another 24 months to completely divest of his personal Walmart holdings at the rate of 85,000 shares he’s sold each month since March.

Walmart shares (NYSE: WMT) closed Thursday at $120.09, down $1.07. For the past 52 weeks, the stock has traded between $102 and $133.38. Since Jan. 3, Walmart stock is up 12.86% in 2020.