Barnes & Noble, Inc.'s Chairman Leonard Riggio announced the sale of a portion of his holdings of Barnes & Noble stock.
According to a release, Riggio said he sold 3.7 million shares of Common Stock, after which his holdings are expected to represent approximately 20 percent of Barnes & Noble's Common Stock outstanding.
"After this sale I remain the Company's largest shareholder, a position I feel very good about," said Leonard Riggio, Chairman of Barnes & Noble, Inc. "I love this company and I believe in its future as I do in all of the wonderful people who work here."
Riggio added that his sale is part of his long-term financial and estate planning and that he has no plans to sell more stock this calendar year.
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