RH CEO Sells 125,000 Shares to Fund Residences, Retains 23.9% Stake
RH•RH CEO Gary Friedman sold 125,000 shares of company common stock July 6–8, reducing his holding to 4,926,337 shares, or 23.88% of the 18.93 million outstanding shares. Proceeds will fund personal residence improvements and repay balances on a personal line of credit.
1. Details of Share Sale
From July 6 through July 8, RH Chairman and CEO Gary Friedman sold a total of 125,000 shares of RH common stock. Following the transaction, his beneficial ownership stands at 4,926,337 shares, representing approximately 23.88% of the 18,926,221 shares outstanding.
2. Funding Purposes
Friedman disclosed that the share sale was executed to finance improvements to his personal residences and to repay outstanding balances on a personal line of credit. He emphasized that the sale was small relative to his total holdings.
3. Insider Ownership History
Prior insider sales by Friedman occurred most recently in 2022, 2019 and 2013, primarily to cover option exercises and tax obligations. He has also made seven open-market purchases from September 2014 through June 2024, underscoring his long-term commitment to RH.
