Toll Brothers CEO Robert I. Toll sold off a million shares of his stock since the year began, half of it this week.
On March 17, Toll sold 470,192 shares for an average of $17.37 a share and the remaining 29,808 for an average of $17.01 a share, netting about $8.68 million.
Toll had a better return on the 500,000 shares he sold Jan. 5 for an average of $22.18 a share, netting more than $11 million in that transaction.
The million shares the company founder has sold this year had little significant impact on his stake in the company. Toll still beneficially owned 13,860,607 shares after the sales this week. Then there are the shares he owns indirectly and through his retirement account.
The company did not immediately answer a request for comment on the sales.