Dicker Data (ASX:DDR) confirmed that Chief Executive and Chair David Dicker sold 8.3 million shares in the firm, representing around 4.6% of issued capital, at AU$8.10 per share, according to a Wednesday Australian bourse filing.
As a result, Dicker Data's free float is expected to increase to 50% from around 46%.
The proceeds from the share sale will used to fund Dicker's final divorce settlement installment, along with other personal funding needs.
Dicker entered into a 12-month escrow on his remaining stake.
The company's shares fell 1% in early trading on Wednesday, earlier hitting their lowest since October 2020.
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