CEO of Curtiss Wright Sells Stock, Profits $1.5 Million

11/4/17

By Charlotte Chilton, NC BIZ News

The chief executive officer and chairman of Curtiss Wright Corp., a Charlotte-based aerospace company, exercised stock options on Thursday and profited $1.5 million.

David Adams exercised 17,000 shares of common stock at $29.88 and sold the stock at $119.04 per share, according to a filing Friday with the Securities and Exchange Commission.

He still owns 53,570 shares worth more than 6.3 million.

In addition, Chief Financial Officer Glenn Tynan sold 3,284 shares at $119 per share for $390,796, according to another SEC filing on Friday.

Curtiss Wright primarily operates within the commercial and industrial and the defense and power segments of aerospace.

The company’s recently reported strong third quarter results of 8 percent organic growth and a higher than expected earnings per share of $1.43.

Adams has served as CEO since 2013 and has been with Curtiss Wright since 2000. Before joining Curtiss Wright, Adams held various senior business roles within Goodrich and Lucas Aerospace for 10 years.

Curtiss Wright is listed on the New York Stock Exchange under the ticker CW. The stock closed at $119.80 on Friday.

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