Executive chairman of Turning Point Brands, David Edward Glazek, sold 30,000 shares for $3.31 million on Dec. 19, reducing his position to 127,083 shares. The sale followed an options exercise and was from direct ownership, not involving indirect entities. Glazek’s sale was liquidity-driven, retaining meaningful exposure to the company.

Turning Point Brands reported revenue of $435.72 million and net income of $52.37 million. The company offers tobacco and alternative products under various brands, generating revenue through wholesale distribution to retail merchants. Its strategic focus on brand strength and innovation supports its position in the consumer defensive sector.

Glazek’s sale comes amid strong company performance, with net sales up 31.2% to $119.0 million in Q3. Adjusted EBITDA rose 17.2% to $31.3 million, with increased full-year guidance. The transaction was driven by an option exercise followed by a sale, emphasizing liquidity management. Glazek’s direct ownership and option exposure remain intact, reflecting confidence in future growth.

Read more at Yahoo Finance: Turning Point Brands Insider Sells $3.3 Million in Stock After 80% One-Year Price Jump