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Executives file to sell $26 million in stock

Monday, April 22, 2002 | 11:12 a.m.

The top three executives of Station Casinos Inc. have filed forms with the Securities and Exchange Commission announcing their intention to sell up to $25.9 million in company stock.

In a form filed with the SEC Friday, Chairman and Chief Executive Frank Fertitta III indicated plans to sell up to 682,000 shares of stock. At Station's current market price, those shares carry a value of $11.65 million.

President Lorenzo Fertitta also plans to sell 682,000 shares, while Chief Financial Officer Glenn Christenson plans to sell 149,290 shares, which carry a market value of $2.55 million.

The sales would represent 6.5 percent of Frank Fertitta's stake, 10 percent of Lorenzo Fertitta's stake, and 13 percent of Christenson's stake. The form did not specify whether the shares sold came from the exercise of stock options.

Station officials could not be reached for comment.

Station's stock hit a 52-week high of $18.84 on April 16.

Station traded at $17.08 this morning, down $1.03, or 5.5 percent.

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