Tax withholding move–not sale of shares for Continental Resources executive

Robert Hagens Bio Picture


A correction to our story about a Continental Resources executive selling shares in the company before the announced takeover by founder Harold Hamm.

Robert Hagens, Senior Vice President of Land at Continental did not make an open market sale of the 18,292 shares in the company. Instead, as a spokesman explained, it was “simply a routine tax withholding of shares when a tranche of stock vested for Mr. Hagens.”

It was a preset and pre-determined financial move made upon his employment, continued the spokesman.

The withholding issue was noted in a filing with the SEC.