Microsoft Corp. Chief Marketing Officer Christopher Capossela is continuing to dump his company's stock, selling more than $7.5 million worth of shares so far this month, according to recent filings.
Capossela most recently sold 5,000 shares of Microsoft's $(MSFT)$ stock at an average price of $316.87 on May 18, according to a Form 4 filing with the Securities and Exchange Commission made public the next day.
He pocketed $1.58 million from the transaction, which came as the stock was trading less than 8% below its Nov. 19, 2021, all-time closing high of $343.11.
The Microsoft CMO also dumped 5,081 shares at an average price of $312.54 on May 16, after selling 4,177 shares at a $312.91 average price on May 10 and 5,000 shares at a $308.71 average price on May 9. Capossela also cashed out 5,000 shares on May 5 at an average price of $310.05.
Microsoft didn't immediately return a request for comment on Capossela's stock sales.
He directly owns 89,327 shares of Microsoft -- worth $28.7 million at current levels -- following his last reported stock sale. He indirectly owns another 1,304 shares through a trust.
Capossela has taken advantage of a strong rally in Microsoft's stock with his recent sales. The shares have climbed 50% from their 52-week closing high of $214.25, sustained Nov. 3, 2022.
He also made two open-market sales of Microsoft shares earlier in 2023, according to MarketWatch's review of past filings. Capossela sold 1,000 Microsoft shares at $272.32 apiece on Feb. 13 after dumping 1,000 shares at a $269.38 average price on Feb. 9.
A Microsoft veteran of more than three decades, Capossela began as a marketing manager for the Windows Seminar Team and later oversaw the transition of Microsoft Office on-premises software to Office 365.