CEO makes open-market purchase of 6,775 shares Wednesday
Intel Corp. Chief Executive Pat Gelsinger scooped up nearly $250,000 of his company’s stock Wednesday, according to new disclosures.
Gelsinger purchased 3,400 shares of Intel INTC, +1.10% at an average price of $36.79 Wednesday while buying another 3,375 at an average price of $36.82, a filing from late Thursday shows. The open-market purchases were made through a Gelsinger family trust that now owns 25,475 shares of Intel. He owns 37,722 shares directly and vastly more through other trusts listed on the latest Form 4 filing with the Securities and Exchange Commission; FactSet lists his ownership at upward of 500,000 shares.
While Intel shares have gained in each of the past five sessions, including when they soared 9.3% higher last Friday in the wake of the company’s earnings report, they’re still off 45% from their recent 2021 peak of $68.26.Intel didn’t immediately respond to MarketWatch’s request for comment on Gelsinger’s stock purchase.
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