One remaining member of Stryker's ($SYK) founding family remains active on the board, and she has just sold a massive number of company shares.
WKRB radio's website reports that Ronda Stryker, a director with the orthopedic device company, sold 21,000 shares on the open market on Dec. 26. The average price: $75.08, generating a grand total of close to $1.6 million, according to a regulatory filing cited by the story. Stryker still maintains sizable holdings, however, and retains 165,225 shares of Stryker stock worth more than $12.4 million.
Ronda Stryker is a granddaughter of Homer Stryker, founder of the Kalamazoo, MI, company and worth more than $3 billion, according to the 2013 Forbes 400 list of the richest people in the U.S. The day she made the stock sale, Stryker's stock closed at $75.39, up slightly in moderate trading. According to Forbes, she is the only remaining member of the founding Stryker family still active with the company.
Her sale comes at a time when Stryker's sales and share price have growing steadily, but ongoing efforts over the company's Rejuvenate and ABG II metal hip recalls have dragged down net earnings. Recently, Stryker settled the first of hundreds of lawsuits it faces regarding allegations that flaws in the Rejuvenate all-metal hip implants injured patients.