Jim Bernhard, chairman, CEO and president of The Shaw Group, on Dec. 27 sold 988,247 shares of the company’s stock, according to documents filed with the SEC on Monday. The value of the shares sold was nearly $46 million. Also, on Dec. 27, Bernhard transferred his remaining 143,356 shares from his Merrill Lynch account to his Morgan Stanley account. Bernhard is one of a handful of Shaw executives and directors who unloaded Shaw stock last week; check out the SEC filings here. Shaw Group shareholders voted Dec. 21 to sell Baton Rouge’s only Fortune 500 firm to CB&I, a Netherlands-based company with administrative headquarters in The Woodlands, Texas. The $3.04 billion deal could close by mid-February, although it is contingent on Nuclear Regulatory Commission approval and receipt of Shaw’s cash settlement for the sale of its Westinghouse stake.
Bernhard sells nearly 1 million Shaw shares
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