The Enid News and Eagle, Enid, OK

Local news

May 16, 2013

OU chief, Continental exec, sells shares

ENID, Okla. — University of Oklahoma President David L. Boren has disposed of nearly one-third of his shares in Continental Resources in a move worth more than $271,000, according to federal documents filed Wednesday.

Boren, 72, also is an executive for the Oklahoma City-based energy giant, where he serves as a one of six directors.

According to a Securities and Exchange Commission filing, Boren sold of 3,333 shares of common stock at $81.48 per share on May 10.

Executives must disclose to the federal government when they acquire or dispose of company stock.

“I’m simply not a very wealthy person that can afford to hold a lot of stock. Virtually every year, I sell some stock,” Boren said Thursday. He still retains 7,223 shares, the SEC document states.

Boren formerly served on the Hiland Partners Board of Directors  but no longer holds any shares in that company, he said.

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