Charles Schwab Co-Chairmen Walter W. Bettinger and Charles R. Schwab sold a combined $33.24 million in company stock. These transactions occurred on August 24 and were reported on August 27.
Walter W. Bettinger sold 176,210 shares for approximately $20 million. This transaction represents a 22.4% decrease in his ownership of the stock.
Charles R. Schwab sold 117,000 shares for roughly $13.24 million. He maintains a substantial holding through various trusts and partnerships.
The sales took place as the stock traded near its 52-week high. Large insider liquidations by key leadership can trigger investor scrutiny regarding confidence in the firm's outlook.