The chief executive officer of First Solar Inc. has sold 250,000 shares of common stock under a prearranged trading plan, according to a new U.S. Securities and Exchange Commission filing.
Michael Ahearn reported he sold the shares last week for $110.95 apiece, or $27.7 million. He still owns 4.74 million shares of the firm which is based in Phoenix but began in Toledo and has its only North American solar-panel manufacturing plant in Perrysburg.
The stock sale was conducted under a prearranged plan that allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
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