ROIV President Torti Frank sold 3,000,000 shares for $82,039,460.40 across 3 transactions; retention 13.74M shares.
Frank sold 3,000,000 shares (17.9% of pre-transaction holdings) over three days at an average price of $27.35. The stock now trades at $27.76, near its 52-week high of $27.76. The company is unprofitable with net income of $-265,891,000.00 in the most recent fiscal year and quarterly revenue of just $1,999,000.00, though the stock has appreciated 33.1% over 90 days and 22.9% over 30 days. Frank retains substantial holdings of 13,736,547 shares post-sale. The magnitude of the divestiture—$82.0M in proceeds from a company with a $19.9B market cap but severe operational losses—stands out in the context of the company's unprofitable state and sharp recent revenue decline (-76.7% year-over-year).