RH (RH) said Wednesday chief executive Gary Friedman sold 125,000 shares of the company's common stock between July 6 and July 8.
Following the sales, Friedman beneficially owns about 4.93 million shares, representing about 23.9% of RH's outstanding common stock.
The company said it sold the shares to fund improvements to personal residences and repay balances on personal lines of credit.
Friedman said the sale was made solely to meet those financial obligations.
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