This is the most pathetic sale yet……..DESPITE THE DIFFICULT ECONOMIC ENVIRONMENT and number of homeowners who were taken advantage of by builders, mortgage companies, and i-banks, MDC Holding’s founder made the company’s largest out-of-pocket sale in five years.

On Sept. 8 Chairman and Chief Executive Officer Larry Mizel sold 300,000 shares for $12.8 million, an average of $42.68 a share. The shares were made indirectly through Mizel’s investment vehicle. He continues to own 6.3 million shares indirectly and 60,000 shares directly. Mizel, who founded MDC in 1972 and has been at the helm ever since, now controls 13.3% of the Denver-based company, which operates under the Richmond American Homes brand.

IT DOESN’T GET ANY WORSE:

Track this stock sale and the performance of the stock post-sale at:

http://trackthepros.com/