H&R Block CEO Bill Cobb sells $5.18 million more of stock ahead of retirement

H&R Block CEO Bill Cobb continued his sales of the Kansas City-based company’s stock ahead of his retirement at the end of July.

Cobb received $5.18 million in proceeds from sales of stock he’d acquired by exercising stock options last week, according to reports filed with the Securities and Exchange Commission.

Earlier reports show Cobb had received proceeds of more than $13.2 million from exercising options and selling shares two weeks ago. H&R Block had said the earlier sales accounted for less than 25 percent of Cobb’s shares in the company and were a move to diversify his holdings.

Each of the transactions followed H&R Block’s report of higher than expected earnings for its fiscal year that ended shortly after the tax filing deadline in April.

Block announced in mid-May that Cobb would retire at the end of July after six years as CEO. General counsel Tom Gerke will serve as interim CEO until a permanent successor is found.

This story was originally published July 3, 2017 at 10:21 AM with the headline "H&R Block CEO Bill Cobb sells $5.18 million more of stock ahead of retirement."