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O’Reilly Automotive's most recent quarterly profits were $527.3 million.
SBJ file photo
O’Reilly Automotive's most recent quarterly profits were $527.3 million.

O'Reilly Auto chair sells, gifts millions of dollars in shares

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O’Reilly Automotive Inc. (Nasdaq: ORLY) board Chairperson David O'Reilly sold and gifted tens of thousands of company shares worth million of dollars, according to a U.S. Securities and Exchange Commission filing.

The auto parts retailer disclosed the trades in a Nov. 24 filing with the federal agency. Made throughout the month, the trades involve 62,600 shares, some of which O'Reilly holds indirectly as a trustee for his children and some that are held in the company's 401(k) plan.

In O'Reilly's most recent day of trading on Nov. 24, he sold 20,000 shares held indirectly in a deal valued at more than $9 million, according to the SEC filing. That day, he also disposed of 450 shares worth $202,068 as a bona fide gift.

To start trades this month, O'Reilly on Nov. 3 gifted 22,150 shares worth nearly $10 million. On Nov. 18, he gifted 20,000 shares held indirectly in a deal valued at $9.1 million, according to the filing. The SEC filing does not state the beneficiaries of the bona fide gifts.

ORLY shares were trading at $438.67 as of 9:38 a.m., compared with a 52-week range of $251.52 to $487.95.

O’Reilly Automotive in October reported a nearly 35% increase in quarterly profits to $527.3 million.

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