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28/11/01 . by Unknown . Reuters . Washington, USA
Retiring McDonald's Exec to Sell Shares
James Cantalupo, who will retire next spring as vice chairman and president of McDonald's Corp., plans to sell 50,000 common shares of the fast food giant, a regulatory filing on Wednesday said.
Cantalupo, who has been with McDonald's for about 28 years, acquired the 50,000 shares after exercising options, his filing with the Securities and Exchange Commission said.
The shares were worth about $1.4 million. He previously sold 50,000 shares on Aug. 28 for almost $1.5 million.
Officials from the Oak Brook, Illinois-based company did not immediately return calls seeking comment on Cantalupo's planned transaction.
He held about 2.5 million McDonald's shares as of Feb. 1, according to the most recent proxy filed with the SEC in April. The world's largest restaurant company has about 1.3 billion common shares outstanding at the end of September.
McDonald's shares were down 37 cents to $26.65 in afternoon trading on the New York Stock Exchange.