NEW YORK, Sept 24 (Reuters) - A former Foot Locker

executive will pay $235,714 to settle U.S. Securities and

Exchange Commission insider trading charges, including over a

trade he made nine days after being laid off, the regulator said

on Tuesday.

Barry Siegel, who had been senior director of order planning

management, agreed to the civil settlement after allegedly using

material nonpublic information about sales and inventories to

trade prior to two Foot Locker ( FL ) earnings announcements in 2023.

The SEC said the 56-year-old Manhattan resident profited

illegally by successfully betting prior to Foot Locker's ( FL )

quarterly results on May 19, 2023 and Aug. 23, 2023 that the

footwear and clothing retailer's stock price would fall.

In both cases, the New York-based company reported falling

sales, rising inventories and a reliance on discounting, causing

its stock price to fall more than 27% and 28%, respectively.

The SEC said Siegel's second short sale occurred on Aug. 18,

2023, nine days after Foot Locker ( FL ) terminated him in a round of

corporate layoffs. He had worked for Foot Locker ( FL ) from 1998 to

2006, and from 2011 to 2023, the SEC said.

Siegel did not admit wrongdoing in agreeing to settle. His

lawyer did not immediately respond to a request for comment.

The payment includes $112,869 of disgorged profit, a

$112,869 civil fine, and interest.

Foot Locker ( FL ) was not accused of wrongdoing. The company is

planning to move its headquarters to St. Petersburg, Florida.