Charter Communications Inc. CHTR, -0.27% disclosed Wednesday that Chairman and Chief Executive Thomas Rutledge sold 88,000 of the broadband communications services company's shares in the open market over the past two days, to raise about $59.4 million. The weighted average price of the stock sales was at $674.82, according to a MarketWatch analysis, or just above Tuesday's closing price of $674.74. The Form 4 filed with the Securities and Exchange Commission showed that Rutledge sold 43,106 at an average price of $674.3398 on Nov. 22 and sold 44,894 shares at $675.2855 on Nov. 23. The shares sold represented about 26.5% of his Rutledge's stake in the company, according to FactSet data. The stock, which slipped 0.1% in premarket trading, has dropped 14.9% over the past three months through Tuesday, while the SPDR Communication Services Select Sector ETF XLC, -0.33% has lost 6.5% and the S&P 500 SPX, -0.20% has gained 4.6%.