J.C. Penney CEO Jill Soltau and Other Insiders Make Purchases of the Retailer's Stock

J.C. Penney executives made additional purchases of the company's stock on the open market this week, including CEO Jill Soltau. The purchases come a week after chairman Ron Tysoe bought 1 million shares of Penney as the retailer faces the prospect of being delisted from the New York Stock Exchange unless it gets its stock price back up above $1 a share. The Plano-based department store retailer has also said it is working with advisers to restructure its $4 billion in debt ahead of maturities in 2022 and 2023. Soltau bought 500,000 shares on Monday for 56 cents a share. She now owns 9.44 million shares of Penney.Chief marketing officer Michelle Wlazlo purchased 100,000 shares on Wednesday at 59 cents a share.Board member Javier Teruel purchased 500,000 shares on Tuesday for 59 cents a share, bringing his total ownership to 2.26 million shares.Chief customer officer Shawn Gensch also made a purchase on Tuesday of 250,000 shares at 58 cents.The stock gained 6 cents, or about 10%, to close at 64 cents a share on Wednesday.  Continue reading...