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Thomas J. Shaw, the President and CEO of Retractable Technologies Inc. (NYSE:RVP), recently acquired additional shares of the company's common stock. According to a recent filing, Shaw purchased 11,547 shares at a weighted average price of $0.738 per share, totaling approximately $8,521. Following this transaction, Shaw directly owns 14,977,751 shares of Retractable Technologies. The purchase comes as the stock shows a strong return over the last month, despite the company facing profitability challenges with negative EBITDA of $9.28M in the last twelve months, according to InvestingPro data.
In addition to his direct holdings, Shaw also has indirect control over 831,600 shares. Of these, 500,000 shares are held in a trust for a family member, with Shaw maintaining investment power as trustee. The remaining shares are under Shaw's voting control through a voting agreement. InvestingPro analysis reveals 7 additional key insights about RVP's financial health and market position.
The acquisition was made under a Rule 10b5-1 trading plan, which was adopted on August 22, 2024. This plan allows insiders of publicly traded companies to set up a predetermined schedule for buying or selling stocks to avoid potential conflicts of interest.
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