Richard Breeden, the “activist investor” who bought nearly 30 percent of Zale Corp. and at one time controlled two seats on its board, has sold more than 300,000 of his shares in the company, SEC filings show.
He still controls 8.7 million shares of the company.
On Jan. 14, Breeden sold 259,531 shares for $1.4 million, the SEC reported. On Jan. 19, he sold 42,554 shares for $212,000, and on Jan. 20, he sold 37,400 shares for $186,465.
A Zale spokeswoman declined comment.
Breeden and an associate resigned from the company’s board in September.
In related news, Zale director Stefan Kaluzny has resigned as managing director of Golden Gate Capital. Zale CEO Theo Killion told Fortune.com he "didn't know" if Kaluzny was staying on the company's board.