ANCHORAGE - The chief executive of Alaska Communications Systems increased her position as the company's largest individual stockholder this month by buying up shares worth about $718,500.
The transaction was disclosed in documents filed with the U.S. Securities and Exchange Commission. It brings Liane Pelletier's total personal holdings in ACS to more than 273,500 shares, which on Monday had a market value of about $2.8 million.
Pelletier said her large personal stake in the company is an advantage when she is dealing with other shareholders and pitching the company to potential new investors.
"I have greater credibility when I sit across the table from investors because I understand where their interests lie," she said.
The stock price has more than doubled since Pelletier took over in fall 2003, and she and other senior executives recently have snatched up shares by exercising their stock options.
ACS is the state's largest local phone company and a leading wireless and Internet service provider.
Juneau Empire ©2014. All Rights Reserved.