Robert Selander, the chief executive of MasterCard Inc., has sold $3.12 million of its stock, according to a regulatory filing late Wednesday.

Mr. Selander sold 20,344 MasterCard shares Monday for an average price of $153.51, according to the data provider Washington Service. He sold the shares under a pre-planned trading plan he adopted in May, according to a filing with the Securities and Exchange Commission.

MasterCard shares fell 6.1% Wednesday, to close at $152.07.

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