Gregory E. Poling, W.R. Grace & Co.’s president and chief operating officer, sold 35,515 shares of the chemical maker’s stock for $2.6 million, according to a Securities and Exchange Commission filing.
Poling, who was promoted to president and chief operating officer in November 2011, sold the shares at $75.89 on July 30, according to filing.
The 35,515 shares Polling sold were stock options Columbia-based Grace (NYSE: GRA) awarded him in May 2009. The options gave Poling the right to buy shares at $9.78 between May 2012 and May 2014, the filing said.
After the purchase price of $9.78 a share, Poling made a profit of $2.3 million.