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Felise Feingold, Senior Vice President and General Counsel at KVH Industries Inc. (NASDAQ:KVHI), has reported a sale of company stock. The transaction comes as KVHI trades near its 52-week high of $6.16, having gained over 30% in the past six months according to InvestingPro data. According to a recent SEC filing, Feingold sold 1,712 shares of KVH Industries’ common stock at a price of $5.808 per share on February 19, 2025. The total value of the transaction amounted to $9,943.
The sale was conducted to cover taxes owed on a restricted stock award that partially vested on February 16, 2025. Following this transaction, Feingold holds 77,403 shares of KVH Industries’ common stock.
In other recent news, KVH Industries Inc. has entered into agreements to sell two properties and has initiated a stock buyback program. The company agreed to sell its 75 Enterprise Center property in Middletown, Rhode Island, to Knight Capital LLC for $8.5 million. This deal includes the property’s buildings and other assets and is subject to standard closing conditions, such as zoning approvals and a 60-day inspection period. Additionally, KVH Industries has signed an agreement to sell its 50 Enterprise Center property to 50 Enterprise LLC, a subsidiary of Seacorp, Inc., for $4.5 million, with a 90-day inspection period included in the terms.
In tandem with these property sales, KVH Industries’ Board of Directors has authorized a share repurchase program, allowing the company to buy back up to $10 million of its common stock. The timing and volume of these repurchases will depend on market conditions, share availability, and other factors. This program may be conducted through various transaction methods and can be adjusted or discontinued at any time. These recent developments highlight KVH Industries’ strategy to manage its assets and enhance shareholder value.
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