BETHESDA, MD – Minaz Abji, executive vice president of asset management for Host Hotels & Resorts Inc., profited $2,028,869 from exercising options and selling shares of company stock, according to a Securities and Exchange Commission filing.
Abji acquired 56,610 shares of company stock at no cost using his exercise option. He then sold 56,610 shares at a price of $18.39 per share for a value of $1,041,058 and sold another 53,475 at a market price of $18.47 per share for a profit of $987,838.
The transactions occurred on March 2, according to the Form 4 filing. Abji still owns 121,788 shares of stock worth more than $2.2 million.
Abji joined Host Hotels in 2003 to serve as the executive vice president of asset management. He previously worked as the president of Canadian Hotel Income Properties real estate investment trust in Vancouver, British Columbia.
Host Hotels & Resorts is a Maryland-based S&P 500 and Fortune 500 company and the largest lodging REIT and owners of luxury hotels.
Host Hotels stock closed Thursday at $18.61, up 22 cents, or 1.2 percent, for the day.
This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism