Bill Ford sells 1 million of his FoMoCo shares

FoMoCo’s Executive Chairman Bill Ford sold 1 million shares of his common stock holdings last week according to the SEC. Bill made $5.05 million on the sale according to a Form 4 filing. He still owns close 5 million shares along with 400,000 more through the company plan, voting trust and family trusts.

Ford spokesman Mark Truby said that the move was a completely personal financial planning decision on Billy boy’s part. Truby said that he sold the shares so he could get rid of debut that he incurred when he bought stock option shares outright in 2005 and 2006.

Last week was a week designated to officers and directors of Ford to buy and sell stock.

Source: Automotive News (Subscription Required)