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The former executive chairman and chief executive officer of World Fuel Services Corporation, Paul H. Stebbins [pictured], sold 50,000 company shares last week at a total value of $2,722,027.50, according to a document filed yesterday with the U.S. Securities and Exchange Commission (SEC).

On Thursday, February 19, Stebbins sold 26,850 shares that he had in indirect ownership at a weighted average sale price of US$54.51 and a combined value of $1,463,593.50. The prices of the individual transactions ranged from $54.50 to $54.58.

The following day, Stebbins sold 23,150 indirect ownership shares at a weighted average sale price of US$54.36 and a combined value of US$1,258,434. The prices of the transactions ranged from $54.01 to $54.70.

Following the sale, the former World Fuel Services executive chairman now has 34,468 common stock shares remaining in direct ownership, plus an additional 358,778 common stock shares in indirect ownership. At current market levels, this values his direct and indirect holdings at over $21 million.

Stebbins stepped down as CEO of World Fuel Services in January 2012. The position was filled by current CEO Michael Kasbar. Stebbins also stepped down as executive chairman at last year's annual meeting of shareholders. He continues to serve as a member of its board of directors.