CBS CEO Les Moonves Sells $22 Million in Company Stock
CBS CEO Les Moonves cashed in $22 million of his company's stock this week, according to regulatory filings.
The exec sold 450,000 shares on Monday and Tuesday at prices slightly below its Friday trading price of $50 per share. He had received the same amount of stock at $23.19 per share this week under his executive compensation.
That hefty $11.6 million gain should cushion the blow from the 10 percent decrease in his compensation between 2011 and 2012. Moonves nonetheless remained the highest-paid media CEO for the year.
This should put Moonves well on his way to beating his stock option take last year, which was a paltry $16.3 million.