Red Hat Chairman Sells $3.4M Shares of Stock

Raleigh, N.C. — Red Hat Chairman Matthew Szulik last week sold more than $3.4 million worth of shares in the Linux software developer and services provider.

Szulik, who gave up his chief executive officer position as of Jan. 1 to James Whitehurst, sold 60,046 shares of Red Hat (NYSE: RHT) on April 2 and another 108,551 on April 3 at a price of $20.25 or $20.26 per share, according to SEC filings.

In February, Szulik exercised an option on 95,000 shares of stock at no charge per share. He also exercised an identical number of shares in November at no charge.

In January, Szulik sold 150,000 shares at $20.50 per share, generating some $3 million in proceeds.

Szulik still owns more than 933,000 shares, according to SEC information.