Fiserv Chairman Cashing In

BROOKFIELD, Wis. – It was a sweet Valentine’s Day for Fiserv Chairman Don Dillon, who took advantage of a run-up in the company’s stock price with the sale of 100,000 shares last Wednesday as the shares hit a new high. Dillon sold 50,000 Fiserv shares at $54.39 each and another 50,000 shares at $54.74, raising more than $5.4 million, according to a filing with the Securities and Exchange Commission. Fiserv shares closed Friday at $54.72, near their all-time high. The 65-year-old Dillon, chairman of the Fiserv board since 2000, has been selling off his vast Fiserv stake, valued at more than $250 million, over the past few years. Over the past two years he has sold more than two million shares for more than $100 million. Dillon still holds around five million shares in the provider of back-office services for banks and credit unions.