BJ's Wholesale CEO Robert Eddy sold $7.3M in shares after exercising options at $17. He retains $28M in stock and 189k options. The stock is down 5% over 12 months.
Robert W. Eddy, the president and CEO of BJ's Wholesale Club, sold $7.3 million worth of stock on July 29 after exercising options at a fraction of the market price, according to a Securities and Exchange Commission filing.
Eddy exercised 73,016 options at a strike price of $17.00 per share and immediately sold the resulting shares at a weighted average price of $100.02. The transaction was a cashless exercise, letting the CEO capture a spread of $83.02 per share.
After the sale, Eddy still owns 282,330 shares directly and 2,000 shares held indirectly by dependent children, worth roughly $28 million at the July 29 close of $99.99. He also holds 189,484 outstanding options, keeping his long-term alignment with shareholders intact. The sale reduced his direct stake by about 20%.
The stock has fallen 5% over the past 12 months, trading near $100. Over a five-year span it is up 85%, outperforming the broader market. BJ's Wholesale reported trailing-12-month revenue of roughly $22 billion and net income of $571 million. Revenue grew 5.9% year over year.
Wall Street consensus calls for revenue to expand 7.8% annualized over the next two years and for earnings to grow 5.6%, according to data compiled by FactSet. The company's membership-based warehouse model, focused on the eastern United States, has delivered steady cash flow.
The CEO's sale follows a pattern common among executives who exercise low-strike options and sell part of the resulting shares for liquidity. The remaining equity stake and option holdings suggest continued confidence in the business.
BJ's Wholesale Club (NYSE: BJ) has an Alpha Score of Unscored, reflecting limited proprietary data coverage; the stock page provides further detail. The stock closed at $99.99 on July 29 and has remained near that level.
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