Sunday, February 7, 2016
Anniversary Celebration: Causby Collects, Wallace and Riedman Sell
The anniversary date of Gentiva's buyout by Kindred Healthcare went without a party. There was no celebration at our hospice site over joining Kindred. I don't think one person mentioned it. We were too busy doing things by paper that used be done by computer, trying to understand what actual benefits remain from our Gentiva days and wondering how to get points to keep our company discount for new health insurance, which pales in comparison to the old and many cannot afford to use.
Meanwhile Kindred at Home President David Causby collected the first part of his stock grant of 53,077 shares. He received 17,693 shares of Kindred stock. On February 2, 2015 Kindred's stock closed at $18.22. A year later it closed at $9.49, down $8.73 per share. That's a 48% decline in stock performance.
Oddly, Kindred's new Chief Operating Office sold over 5,700 shares from his monster stock grant for the same $9.49 per share. Days earlier General Counsel Suzanne Riedman sold over 12,000 shares for $9.66 a share.
These executives may have enjoyed Kindred's anniversary of acquiring Gentiva, especially with the proceeds from their stock grants and subsequent sales. For the rest of us there was little to celebrate.
Anonymous (from Gindred)