WASHINGTON (Reuters) - Mitch Caplan, who was recently ousted as chief executive of E*Trade Financial Corp (ETFC.O), has sold almost 20 percent of his holdings in the online brokerage, according to InsiderScore.com on Tuesday.
Regulatory filings show that Caplan sold 300,000 shares on Dec. 14 for $3.87 each for proceeds of about $1.16 million.
The transaction leaves Caplan, who is still a director of E*Trade, with 1.35 million shares that he directly holds.
The sale by Caplan was his first ever that was not directly related to the exercise of options, filing tracker InsiderScore.com said in a research note.
Caplan was CEO of E*Trade from January 2003 through Nov. 29 of this year when the brokerage received a $2.55 billion cash infusion from investors led by Citadel Investment Group.
Citadel also agreed to buy the mortgage-related securities portfolio that has been the primary source of E*Trade’s recent woes.
But shares of E*Trade later tumbled after more details about the deal were revealed and seemed to favor Citadel at E*Trade’s expense.
Shares of E*Trade hit a year-high of $26.08 on Jan. 16. They were down about 4.7 percent to $3.64 during early afternoon trading on Tuesday.
Reporting by Karey Wutkowski, editing by Phil Berlowitz