Former Wynn Resorts CEO Steve Wynn is selling about 4 million shares that he owns in the casino-operating company.
Wynn, who resigned last month from the company bearing his name after women accused him of sexual misconduct, had been the largest shareholder in the company. The stock sale will now make him the third biggest shareholder.
Shares of Wynn Resorts Ltd. closed at about on Wednesday, which makes the stock he’s selling worth approximately million. Wynn still owns about 8 million shares, or about 7.8 percent, of the company’s stock, according to a regulatory filing.
Wynn’s termination agreement restricts him to selling no more than one-third of his shares in a given quarter.