The vice president and general counsel of SPX Corp.’s sold 16,800 shares in company stock last Friday, according to a filing with the Securities and Exchange Commission.

The selloff of these shares amounted to a total value of $488,544.

John Webster Nurkin, vice president, general counsel and secretary at SPX, has been with SPX since September 2015. Prior to working at SPX, Nurkin was a partner at the law firm Moore & Van Allen.

Nurkin remains the owner of 54,970 shares following the disposal of 23.5 percent of his company stock. The market value of his remaining shares amounts to $1.6 million.

He currently holds $1.45 million in stock options that are in the money. Out of this $1.45 million, $682,589 can be exercised. An additional $398,709 will become exercisable in March 2019.

SPX is a supplier of equipment related to heating, ventilation, and air-condition. Its business strategy is focused on driving the growth of its air conditioning products, which include cooling towers, commercial and residential boilers and comfort heading products.

The Charlotte-based company was founded in 1912 in Michigan as the Piston Ring Co. It originally designed and manufactured components for Detroit’s car companies.

The company’s share price is up 0.5 percent on the week. Since hitting its all-time high of $37.75 on June 12, 2018, the company’s share price has trended downward, hitting a 52-week low of $28.21 on Nov. 2.

The filing can be found here.