The president and chief executive officer of Greensboro-based Qorvo Inc. profited $1.1 million by exercising options and then selling stock, according to a filing with the Securities and Exchange Commission.
Robert Bruggeworth exercised the option to purchase 6,200 shares of the company’s stock on July 6 at a price of $25.24, spending $156,488. He then sold that stock in the open market at an average price of $65.01, profiting $403,062.
On July 7, Bruggeworth exercised an option to purchase 21,639 shares at a price of $25.24, spending $546,168, and then sold those shares in the open market at an average price of $65.03, profiting $1.4 million.
Both options were expiring next month. Qorvo makes parts for wireless devices and defense radar and communications.
Bruggeworth, who has been CEO since 2013, still owns more than 210,000 shares of the company worth more than $13.7 million.
Prior to the merger of RFMD and TriQuint to form Qorvo, he served as president and chief executive officer of RFMD from January 2003 to December 2014.
He was previously president of RFMD from June 2002 until January 2003. Before this he was also vice president and then president of RFMD’s wireless products group.
Qorvo’s stock closed Thursday at $67.37, down 10 cents.