Steven Fishman

The U.S. securities regulator is investigating a $10 million stock sale in March by Steven Fishman, chief executive of close-out retailer Big Lots, who announced his retirement on Tuesday, The Wall Street Journal reported, citing a person familiar with the inquiry. The U.S Securities and Exchange Commission allows company executives to trade their own stock by using a preset trading plan called "10b5-1," even when they have access to private information.