John Havens, Citigroup Inc.’s president and chief operating officer, sold $3.52 million of the New York-based bank’s stock, according to a regulatory filing.
Havens sold 60,000 shares at an average price of $30.41 on Oct. 26, and 50,000 shares at $33.90 a day later, according to the filing with the U.S. Securities and Exchange Commission. The sale was done for tax-planning purposes, spokeswoman Danielle Romero-Apsilos said in an e-mail. Havens held more than 334,000 shares after the transactions, the filing shows.
Citigroup fell 1 cent to $34.16 in New York trading. The lender, ranked third by assets in the U.S., is down 28 percent this year, compared with the 20 percent drop for the 24-company KBW Bank Index.