While the United States government may not be selling its shares, General Motors CEO Dan Akerson is buying them up. Akerson, who has been CEO of the company since Sept. 1, bought nearly $1 million worth of stock as a personal investment.
According to a U.S. Securities and Exchange Commission filing Thursday, 62-year-old Akerson purchased 30,000 shares at $31.33 for a total transaction price of $939,900.
The company’s spokesman Jim Cain confirmed the purchase, saying the “investment speaks for itself.”
With this purchase, Akerson holds 50,000 GM shares, worth about $1.6 million. His $9 million annual pay package includes $1.7 million in cash, and $7.3 million in stock compensation.
– By: Omar Rana
Source: Detroit News