Martha Stewart, the lifestyle expert convicted for conspiring to lie over a stock trade, sold $2.16 million worth of shares in her namesake company Martha Stewart Living Omnimedia in the last week, according to company filings on Tuesday.
Stewart and the Martha Stewart Family Partnership sold 231,200 shares at an average price of $9.17 per share in transactions on Thursday June 10 and Monday June 14, according to a filing with the Securities and Exchange Commission.
The shares amount to a 2.85 percent stake in the media company Stewart built into an empire of home decorating advice and products bearing her name. Stewart retains 7.89 million shares.
Stewart last week requested a new trial on the grounds her March 5 guilty verdict was tainted by a government witness who lied on the stand. Stewart's sentencing was delayed by three weeks to July 8 to give a federal judge time to consider the request.
After her conviction, Stewart resigned as a board member and officer of her company, which said it could face additional operating losses and lawsuits as a result of its founder's legal woes.
Martha Stewart Living Omnimedia shares closed 1 cent lower at $8.95 on the New York Stock Exchange.