Jae Kim, Lumentum Holdings' senior vice president and general counsel, sold 7,803 shares for about $6.6 million on August 19 and 20, according to an SEC filing. Of that total, 1,904 shares were sold under a Rule 10b5-1 trading plan adopted February 6, while 5,899 shares were withheld to cover taxes on vesting restricted stock units. Kim retains 38,170 shares, a 0.05% stake in the $68.4 billion optical and photonic products maker. The weighted average sale price was $847.33 per share, versus an $879.28 close on August 20. Lumentum recently settled $1.1 billion of convertible debt by issuing shares, triggering a $7.8 billion non-cash charge that produced a $7.2 billion reported quarterly loss, though revenue rose 109% year over year to $1.01 billion and September-quarter guidance is about $1.25 billion.
Lumentum Holdings IncInsider sale and tax withholding on RSUs, plus recent convertible debt settlement and large non-cash charge, though revenue growth is strong.
