Former Albemarle CEO Sells $13.6M Worth of Stock

8/17/20

By Rachel Girimonte, NC BIZ News

The former chief executive of Albemarle Corporation sold approximately $13.6 million worth of the specialty chemical company’s stock.

On Aug. 11, Luther “Luke” Kissam sold 111,254 shares for $90.46, another 38,351 shares at $91.43, and 389 shares at $92, according to a Form 4 filed with the Securities and Exchange Commission. Kissam now owns 187,065 shares, valued $17.28 million as of Friday’s closing share price.

Kissam, who joined the company in 2003 and became CEO in September 2011, announced his June retirement back in February, citing health reasons related to a 2019 diagnosis with a non-Hodgkin’s lymphoma.

Shares of Albemarle (ALB) gained 79 cents, or 0.86 percent, to close at $92.39 per share on Friday. The specialty chemical manufacturing company stock is up roughly 26% year to date.

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