WYNN RESORTS LTD (WYNN) 63.88 -$0.26 (-0.41%) 12:44PM (15 mins delay)

Wynn's CEO Starts Cashing Out

Oct 08, 2009 - 2:24 AM EDT

Steve Wynn and his chief operating officer are pushing back from the table.

Since the end of July, Steve Wynn has sold $114 million worth of shares in Wynn (WYNN) and his Chief Operating Officer Marc Schorr has sold over $7 million. It's the first time in the last decade that Wynn has sold such a large chunk of shares. For Schorr, the proceeds from his sale exceeded his average annual total compensation over the past three years.

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Source: Seeking Alpha (Oct 08, 2009 - 2:24 AM EDT)