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Former Bear Stearns CEO Sells Last of Shares

Alan "Ace" Greenberg, the former chief executive of Bear Stearns, has sold his last remaining shares of the investment bank, according to a Securities and Exchange Commission filing.

Greenberg, who is chairman of the executive committee, sold 15,000 shares at $9.26 per share on Friday. After the sale, Greenberg, who joined Bear Stearns in 1949 and served as CEO from 1978 to 1993, no longer held any shares in the bank.

In a separate filing, Bear director Carl Glickman reported the Friday sale of 291,542 shares at $9.30 a share. The sale also cashed out his Bear holdings.