Major owner of Monarch Casino & Resort just sold 60,797 shares

Bob Farahi, a major owner of Monarch Casino & Resort and Monarch Casino & Resort's President and a director of the company, recently sold 60,797 shares of the company. The sales took place at prices ranging from $20.53 to $20.65 per share, on dates ranging from July 30 to August 02, 2013. Farahi still owns 1,707,164 shares of the company. Farahi operates out of Reno, NV. Some additional info was provided as follows:

On October 21, 2004, Mr. Farahi was granted an option pursuant to the Company's 1993 Executive Long Term Incentive Plan, as amended, to purchase 100,000 shares of the Cmpany's common stock at $11.685 per share. The shares' vesting schedule is as follows: 33,332 vested on October 21, 2005; 33,334 vested on October 21, 2006 and 33,334 vested on October 21 , 2007.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.

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