Insider Selling: Twitter (TWTR) CEO Unloads $5M Worth of Stock

Twitter (TWTR)’s CEO Dick Costolo sold more than 140K shares of the company’s stock in early January, according to a SEC filing.

The sale netted the somewhat embattled CEO about $5.32 million. The shares were disposed of at an average price of $37.52 apiece.

Costolo still owns more than 800K TWTR shares, 36,028 personal share under his name, as well as 509,828 restricted stock that hasn’t vested yet, according to the filing.

Shares of Twitter fell 2.37% in recent trading, hitting $37.84. Approximately 8.01M shares have already changed hands, compared to the stock’s average daily volume of 23.79M.

TWTR is down more than 41% year-to-date. The decline, plus frustration with frequent management shuffles and concern about the direction of the company amid slowing user growth, has caused a number of analysts to demand Costolo’s exit.

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