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Midstate trading: Rite Aid execs sell nearly $33M in company stock

Several public company executives in the midstate cashed in on company stock right before Christmas.

That included six top names at East Pennsboro Township-based Rite Aid Corp., who collectively sold $32.7 million worth of company stock.

Shares of Rite Aid stock have jumped by $2 per share in December, closing at $7.41 on Friday. Each of the executives sold on Dec. 22 and Dec. 23, missing the rally above $7 to close the week.

Chairman and CEO John Standley exercised 1.7 million shares at an average price of 96 cents per share. He then sold those shares at an average of $6.82, or a total of $11.6 million, according to trading activity filed with the U.S. Securities and Exchange Commission.

Standley retains more than 2.7 million direct shares.

Frank Vitrano, the drugstore chain’s senior executive vice president and chief administrative officer, exercised nearly 1.1 million and then sold them for about $7.3 million. Kenneth Martindale, the company’s president and COO, sold more than 1 million shares for $7.1 million.

Executive vice presidents Marc Strassler, Tony Montini and Robert Thompson sold shares totaling $3.9 million, $1.8 million and $1 million, respectively.

Other local stock activity

• Bryan Cressey, a board director at Select Medical Holdings Corp., sold 18,500 shares totaling $271,765 on Dec. 22. He retains 577,466 direct shares, according to an SEC filing.

• Three executive vice presidents at Susquehanna Bancshares Inc. exercised stock options last week. Michael Harrington exercised 45,577 shares totaling $519,513, Carl Lundblad exercised 28,496 shares totaling $297,268 and Beverly Wise exercised 3,715 shares totaling $44,255.

• Activist shareholder Gregory Shepard increased his holdings in Donegal Group Inc. with the purchase of 1,255 shares last week totaling $26,982. He now has 398,455 shares of Donegal’s Class A stock.

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