Insiders at footwear purveyor Deckers Outdoor, including the chief executive, have been dumping shares.
Shares of Deckers Outdoor (DECK) were down $3.87, or 5%, to $70.89.
According to SEC filings online, four of the five insiders sold in late February; all still own shares. In one case, the reason for the sale was Code F, payment of exercise price or tax liability. In all other cases, the sale was Code P, which designates an open-market transaction:
Deckers is trying to convince men to wear its Uggs brand. Martinez told Bloomberg recently that men “like the fuzzy stuff inside” but won’t admit it. That’s hard to believe. In practice, the Ugg spring campaign for men shows shoes and boots that look quite streamlined compared to those sheepskin clodhoppers.