10:15 AM EDT, 05/22/2024 (MT Newswires) -- Hollysys Automation Technologies ( HOLI ) Chief Executive Changli Wang has sold roughly 1.1 million of the company's ordinary shares, according to a Tuesday filing with the US Securities and Exchange Commission.

Wang notified the company that his recent sale of shares was "solely for his own personal financial planning needs," Hollysys said in a statement Wednesday.

The CEO now maintains roughly 80% of his pre-sale holdings in the company, the company said.

Hollysys said its operational plans will not be impacted by CEO's decision to sell the shares.

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