LV Sands President Leven to sell 1.75m shares in 2011

LAS VEGAS Las Vegas Sands Corp. President Michael Leven plans to sell about half of his Sands shares of company stock during 2011 as part of a prearranged stock trading plan.

Leven intends to sell 1,758,349 shares as part of a personal long-term strategy for asset diversification, tax and family planning, according to a filing this week by Sands with the Securities and Exchange Commission. Based on current market prices, the shares are worth US$78 million.

Leven would retain about 1.86 million shares and options if he completes all of the transactions as planned.

The 73-year-old Leven took over as Sands president in March 2009 and recently signed a two-year contract extension through November 2012.