The Chief Operating Officer of Oklahoma City-based SandRidge Energy, Inc. recently sold 22,803 shares of stock valued at nearly half a million dollars.
According to a legal filing dated Friday, January 5, 2018 with the U.S. Securities and Exchange Commission, John Patrick Suter sold 22,803 shares of common stock at an average price of $20.73 per share for a total of $472,706.19.
Following the sales transaction, Suter retains 85,893 shares of company stock valued at nearly $1,780,561.89. He cashed out at a good time and fairly close to SandRidge’s 52-week high of $22.90 per share.
Suter was hired by SandRidge in April of 2015 as its Senior Vice President of Production. After holding various positions in leadership, Suter was promoted to the position of Chief Operating Officer in December of 2016.
Prior to joining SandRidge, Suter was previously employed by American Energy Partners LP, Chesapeake Energy Corporation, Continental Resources, Inc., Cabot Oil & Gas Corporation and Petro-Lewis Corp. He is a 1982 graduate of Texas Tech University.