GM CEO Akerson buys $500,000 in stock

@CNNMoneyInvest August 9, 2012: 12:39 PM ET
chart_ws_stock_generalmotorsco_201289122227.top.png

NEW YORK (CNNMoney) -- General Motors CEO Dan Akerson bought just over $500,000 in GM stock with his own money this week.

The purchase, detailed in a filing with the Securities and Exchange Commission, is unusual in that most stock purchases by CEOs are done as part of their compensation packages, not as their own investment.

Akerson bought 25,000 shares of GM at a price of $20.35 each. It brought his holdings up to 272,828 shares. He bought just less than a third of those shares on the open market with his own funds.

He bought 10,000 shares for $25.05 each in August 2011, and 30,000 shares for $31.33 each in March of that year. On Nov. 18, 2010, the day of the GM IPO, he also bought 15,000 shares in the open market for an average of $33.54, just above the $33 IPO price.

But despite posting record profits last year and recapturing the global lead in auto sales, GM shares have declined fairly steadily since that debut, losing nearly 40% of their initial value.

Shares were up 1.3% in trading Thursday. To top of page

Index Last Change % Change
Dow 17,796.45 -13.61 -0.08%
Nasdaq 4,740.65 27.68 0.59%
S&P 500 2,066.55 3.05 0.15%
Treasuries 2.32 0.01 0.26%
Data as of 1:01pm ET
Company Price Change % Change
Bank of America Corp... 17.14 0.02 0.09%
Apple Inc 118.16 1.69 1.45%
AT&T Inc 34.68 -0.60 -1.70%
Intel Corp 36.38 0.78 2.21%
Microsoft Corp 47.79 -0.19 -0.40%
Data as of 12:46pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.98%4.08%
15 yr fixed3.09%3.11%
5/1 ARM3.20%3.22%
30 yr refi4.06%4.16%
15 yr refi3.17%3.20%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.