Former Obama national security advisor Susan Rice has sold a large chunk of her Netflix shares as speculation rises that she is a top contender to be Joe Biden’s vice presidential running mate. Rice has served as a Netflix board member since 2018.
Rice exercised options to sell her shares at a price of $508.68, according to documents filed with the Securities and Exchange Commission on Thursday. The Wall Street Journal estimated that Rice exercised about a quarter of her options, netting about $305,000 from the sale.
A representative for Rice told the Journal that the sale has “nothing to do” with Biden’s presidential campaign.
“Ambassador Rice’s sale of a fraction of her Netflix stock has nothing to do with V.P. speculation,” Erin Pelton, Rice’s spokeswoman, said in a statement. “She filed a stock plan pursuant to SEC regulations over three months ago.”
Netflix board members receive monthly compensation in the form of stock. Earlier this week, Rice received 125 shares at an exercise price of $498.62, according to SEC filings.
Susan Rice is rumored to be among the top contenders as Joe Biden’s vice presidential running mate. The Obama loyalist previously worked with Biden in the Obama administration in the roles of national security advisor and ambassador to the United Nations.
Other rumored contenders are Sen. Kamala Harris (D-CA), Rep. Karen Bass (D-CA), and Rep. Val Demings (D-FL).
Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at firstname.lastname@example.org