It was reported on August 5 that according to documents disclosed by the US Securities and Exchange Commission (SEC) on August 4,$NexTier Oilfield Solutions (NEX.US)$President and CEO Drummond Robert Wayne Jr sold 250,000 common shares at an average price of $11.69 per share on August 2, worth approximately US$2,921,300.
What is a statement of change in shareholding?
The SEC requires insiders of listed companies to publicly disclose their securities transactions and shareholding. When an insider's shareholding changes, depending on different circumstances, it is necessary to submit a statement of change in shareholding to the SEC within a certain period of time after the transaction is completed.
Insiders include the company's directors and executives, as well as any shareholder who owns 10% or more of the company's tradable shares.