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CEDAR RAPIDS, Iowa (KCRG) - Two days after the United Auto Workers overwhelmingly rejected a new contract agreement with John Deere, the CEO and Chairman reported selling $72,473 of company stock.
The filing, which was made with the Security and Exchange Commission on Tuesday, said CEO and Chairman of the Board of Directors John May began selling stocks in March 2021. However, SEC rules require documentation filed within two business days following the transaction date.
Around 10,000 United Auto Workers across the country, including many in Iowa, began a strike on the company the day after the filing was reported on Wednesday.
John Deere’s stock, which is under its formal name of Deere and Company, is down around 6.3% during the last month. The stock decreased by around 3% in the last five days.
The company didn’t immediately respond to comment at the time of publication.
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October 17, 2021 at 12:10AM
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Before strike began, Deere CEO reported selling more than $72,000 in company stock - KCRG
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