On November 30, 2020, an Extraordinary General Meeting (EGM) was held virtually by Tiffany in order to submit to its shareholders the amendment made at the end of October to its merger agreement with LVMH. The latter consisted in lowering the sale price of the New York jeweler’s shares to $131.59 per share. By selling 132,217 shares, Tiffany’s CEO, Alessandro Bogliolo, achieved total sales of $17.4 million.
The transaction, which concludes a long negotiation process between the two luxury giants, is itself the result of a series of sales of Tiffany & Co (TIF) shares. Senior Vice President Andrea Davey sold 5,817 shares of TIF at an average price of $131.57 on November 25, 2020.
On the same date, and for an obviously identical price per share, Senior Vice President Leigh M. Harlan sold 8,396 shares of TIF, while Andrew W. Hart sold 9,200 shares. On the same day, Vice President Gretchen Koback-Pursel sold 6,146 shares of TIF for the fixed price of $131.57.
Featured photo: © Profumerie Pinalli