Breeden Reduces Zale Stake

Former Zale Corp. director Richard Breeden has dramatically
reduced his stake in the company, federal filings say.

According to an SEC
filing
from June 10, Breeden now controls 5.9 million shares, or 18.4
percent of the company, after records
say he disposed of 1.5 million shares on the non-open market.

In February, an SEC
filing
showed his stake as 7.7 million shares, or 24 percent of the company.

At one point, Breeden was the company’s largest shareholder,
controlling 28.46 percent of its shares, and in January 2008, Breeden and
an associate were given seats on Zale’s board
. They resigned
in September 2010
.

Breeden started selling his Zale shares in
January
.