Rexford sells real estate while former co-CEO sells shares
Rexford’s Laura Clark-era has begun. Clark took the corner office April 1 (not an April Fools thing), bringing an official end to co-CEOs Michael Frankel and Howard Schwimmer’s reign. Frankel celebrated early by selling shares. He disposed of more than 23,000 shares in mid-March, each at an around $35 price tag, amounting to $800,000-plus in his pocket. He still owns almost 600,000 shares of common stock — not to mention lots of long-term incentive partnership units and performance units. In other Rexford news, post-Elliott stake, the industrial real estate investment trust posted an update to shareholders, assuring them the company […]This article originally appeared on The Real Deal. Click here to read the full story.
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