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Waddell & Reed general counsel sells shares

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By AP
05 June 2008 @ 02:42 pm EST

NEW YORK - The general counsel of Waddell & Reed Financial Inc., an investment management company, sold 19,743 shares of common stock, according to a Securities and Exchange Commission filing Wednesday.

In a Form 4 filed with the SEC, Daniel C. Schulte reported he sold the shares Monday and Tuesday for $35 to $36.06 apiece.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Waddell & Reed Financial is based in Overland Park, Kan.

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