True Religion prez cashes out

Michael Buckley has left the Vernon-based denim maker, but just days before his departure, which was announced last night, he sold 150,000 shares of company stock worth $4.3 million. The insider sale was by far his largest since he joined the company in 2006. Buckley sold out at an average share price of $28.68 - the stock is now trading at $27.76, down about $1.20 on the day. The company only mentioned Buckley in passing when it named Michael Egeck the new president. Egeck was most recently an executive at VF Corp. (maker of Lee and Wrangler jeans, among many other brands). A press release says that Buckley is leaving to - what else? - "pursue other interests." The timing of his stock sale and departure are more than a little weird, and it would be nice for the company to provide some clarity. Nothing so far.