"Legendary U.S. oilman Harold Hamm will step down as chief executive of Continental Resources and become its executive chairman, the company said on Wednesday. ... Hamm, who owns 77% of Continental, said in a statement on Wednesday that his “long history of buying, not selling” shares “will not change.”Dec 11, 2019"
No matter how many shares an insider buys or sells the % of held shares tells the story.
Current insider holdings...63.19% % of Shares Held by All Insider
Harold Hamm is no longer the CEO but still involved. He has other interests that could explain his desire for capital. In fact he does have other interests...try some research.
"Mr. Hamm also sold a lot of shares in 2007 and he lost a lot of gains as the stock went way up after that.
Harold has made over 29 trades of the Continental Resources stock since 2007, according to the Form 4 filled with the SEC. Most recently he sold 1,779,496 units of CLR stock worth $60,271,530 on 17 December 2019.
The largest trade he's ever made was selling 20,650,000 units of Continental Resources stock on 18 May 2007 worth over $291,165,000. On average, Harold trades about 599,158 units every 104 days since 2007. As of 17 December 2019 he still owns at least 1,742,131 units of Continental Resources stock."
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