Richard Bassett cashes out

NEW YORK CITY -- Former MarineMax Inc. president and board member Richard R. Bassett sold 3.15 million shares of MarineMax common stock for $15 a share, or about $47.2 million, the boat dealership chain revealed yesterday.

Bassett’s shares were purchased by investment firms Raymond James & Associates and Jefferies & Co. MarineMax will not receive any of the proceeds.

The sale of Bassett’s stock occurred at a discount to yesterday’s opening price of $17.80 a share for MarineMax stock on the New York Stock Exchange.

Bassett, 50, was MarineMax’s president until he retired from that position during July 2002 and he left the company’s Board of Directors last March. He was the owner of Bassett Boat Co. of Florida, one of the dealership companies that combined during the 1990s to form MarineMax, the boating industry’s most successful roll-up.

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--Jeff Kurowski

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