"It feels to me the Board of Trustees has given up, " said Essl, 38, a Cooper graduate himself who now teaches graphic design.

WSJ: Famed free NYC college may start charging tuition

Essl sold 42, 947 shares of EXP stock in March.

FORBES: Weekly CEO Sells Highlight: Amerisourcebergen, Anadarko Petrol, Comcast Corp A, Eagle Materials