MT4.com Bill Ford Acquires 2 Million Shares of Automaker With Stock Near 20-Year High
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Bill Ford Acquires 2 Million Shares of Automaker With Stock Near 20-Year High
Bill Ford Acquires 2 Million Shares of Automaker With Stock Near 20-Year High
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(Bloomberg) -- Ford Motor Co. Chair Bill Ford acquired almost 2 million shares of his company for about $20.5 million through the exercise of stock options.Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsAnatomy of a Bad RoadThe 15 Best Beers We Drank This YearFormer Oil Trader Is Now Betting on Lumber for SkyscrapersThe great-grandson of founder Henry Ford chose to use cash to pay exercise

(Bloomberg) -- Ford Motor Co. Chair Bill Ford acquired almost 2 million shares of his company for about $20.5 million through the exercise of stock options.

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The great-grandson of founder Henry Ford chose to use cash to pay exercise costs on the options rather than sell some of the resulting shares, according to a regulatory filing.

The transaction leaves Ford, 64, with about 20 million shares, including restricted stock. That total also includes about 15 million of the founding family’s special class of super-voting stock. His holdings would be worth about $400 million based on Ford’s latest price.

The automaker’s shares hit a 20-year high last month, with investors rewarding the company for a more aggressive push into electric vehicles under Chief Executive Officer Jim Farley. Since Farley became CEO 14 months ago, Ford shares have risen nearly 200%, closing Wednesday at $19.81.

“The decision to exercise these options to purchase almost 2 million shares of common stock reflects Bill’s confidence in the future of the company and our plan to create tremendous value for all of our stakeholders,” Ford Motor said in an emailed statement.

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