It was reported on August 10 that according to documents disclosed by the US Securities and Exchange Commission (SEC) on August 9,$NexTier Oilfield Solutions (NEX.US)$President and CEO Drummond Robert Wayne Jr sold 225,000 common shares at an average price of US$11.54 per share on August 7 and 8, with a value of approximately US$2.596 million.
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.