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LaSalle execs sell stock
April 28, 2010 – Three executives with the real estate investment trust that owns Hotel Sax at Marina City have filed statements with the Securities and Exchange Commission showing they have sold between 12 percent and 45 percent of stock they owned in the company. The stock was sold on Monday. Michael D. Barnello, president and CEO of LaSalle Hotel Properties, got $1.3 million for 49,236 shares of common stock he sold at an average price of $26.81 per share. He still has 236,365 shares. LaSalle’s Chief Financial Officer, Hans S. Weger, sold 19,185 shares at an average price of $26.82 for $514,541. He now has 136,565 shares. And a director, Stuart L. Scott, sold nearly half of what he owned – 100,000 shares – at $26.90, making $2.6 million and leaving him with 121,572 shares. Such sales are not unusual. Federal law just requires a “Statement of Changes in Beneficial Ownership” to be filed whenever an insider of a publicly-owned company buys or sells more than $10,000 worth of stock in the company.
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