Kirkland's founder reports sale of shares, drops ownership to 17.3%

By Lisa Kerner

Charlotte, N.C., May 22 - Kirkland's Inc. founder and chairman emeritus Carl T. Kirkland sold 815,300 shares of the company's common stock under an April 23 plan adopted in compliance with rule 10b5-1 of the Securities Exchange Act of 1934.

The shares were sold between May 8 and May 21 at prices from $6.50 to $7.1766, according to a schedule 13D/A filed with the Securities and Exchange Commission on Friday.

Kirkland beneficially owns 3,402,862 shares, or 17.3%, of the Jackson, Tenn., specialty retailer's outstanding stock.

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