A board member of LendingTree, a Charlotte-based company that offers a variety of finance products and brokers loans, purchased $1.1 million of company stock on Thursday, according to a filing with the Securities and Exchange Commission.
Director G. Kennedy Thompson purchased 5,000 shares of company stock valued at $230.91 for a total value of $1,154,550.
Thompson has served on the board of directors since March 15, 2017. He also serves as a member of the transaction committee.
Formerly, Thompson was the president and CEO of Wachovia Corp., a Charlotte-based financial services company, from 1999 to 2008.
He also served as chairman of the Clearing House, chairman of the Financial Services Roundtable, chairman of the Financial Services Forum and president of the Federal Advisory Council of the Federal Reserve Board.
In the past five years, Thompson served as a member of the board of directors at HP Inc. and BNC Bank.
LendingTree is an online loan marketplace founded in 1996 that allows consumers to shop personal and commercial loan options.
The company announced two changes to its executive team on Wednesday.
LendingTree closed at $230.95 on Thursday and opened at $231.65 Friday morning, up 70 cents from the day before.