Relational Investors sells shares, cuts ownership of Harman to 4.33%

By Lisa Kerner

Charlotte, N.C., June 25 - Relational Investors, LLC sold 500,000 shares of Harman International Industries, Inc. stock between May 19 and May 22 priced from $16.88 to $18.05 each, according to a schedule 13D/A filed Thursday with the Securities and Exchange Commission.

Between May 5 and May 14, Relational Investors sold 1.2 million shares, a prior SEC filing said.

The investors beneficially own 3,000,200 shares, or 4.33%, of Harman's outstanding stock.

In April, Relational Investors suggested that Harman's board of directors would have to consider strategic alternatives if the company's STEP Change restructuring targets are not met or are unlikely to be met.

Harman is a Washington, D.C., manufacturer of high-fidelity audio products and electronic systems for the automotive, consumer and professional markets.

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