Green Mountain’s Plunge Forces Chairman to Sell Shares
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Robert P. Stiller, chairman and founder of Green Mountain Coffee Roasters Inc., disclosed the sale of more than one-third of his company stake, some of which was pledged to cover margin accounts and as loan collateral.
About $125.5 million of Stiller’s Green Mountain stock was sold May 7 to meet margin requirements after the shares tumbled last week, according to a filing with the U.S. Securities and Exchange Commission today. Waterbury, Vermont-based Green Mountain on May 2 reported revenue that trailed analysts’ estimates, sending the shares down 48 percent the next day.