RH CEO sold 500,000 common shares of company from Dec 9 through Dec 11
RH announced that Chairman & Chief Executive Officer Gary Friedman sold an aggregate of 500,000 shares of RH common stock from December 9, 2019 through December 11, 2019 consisting of an option to purchase 100,000 shares, and 400,000 shares of common stock that Friedman owned outright. Friedman reported that the current sale of shares was made in order to fund a final payment obligation due under a marital dissolution agreement; the acquisition and improvement of real estate for a personal residence; and the repayment of outstanding balances under personal line of credit borrowings. The current sale represented approximately 6.9% of Friedman's aggregate ownership stake in RH. Following this sale, Friedman retains beneficial ownership of 6,730,158 shares, representing beneficial ownership of approximately 28.1% of RH's common stock. Friedman has also informed the company that he does not expect to sell additional shares at this time.