Sycamore Executives Register 1.53M Shares For Sale (SCMR)
(NewsTraders.com) -- Eight executives at Sycamore Networks (SCMR), including Chief Financial Officer Frances Jewels, combined to register for sale over 1.53 million common shares of the optical networking products specialist, according to Form 144 filings released Monday by the Securities and Exchange Commission.
Jewels, who indicated she would sell 116,205 shares, valued at $8.4 million, was joined by Chief Technical Officer and company co-founder Richard Barry, who filed to sell 172,880 shares, worth an estimated $12.4 million.
Meanwhile, co-founder and vice president Eric Swanson listed 238,325 shares, appraised at $17.2 million, for disposition.
Elsewhere, Chikong Shue, an executive vice president, and senior vice president E. Ryker Yang, each tagged 200,000 shares for market, eyeing $14.4 million payouts.
Rounding out the selling party were thee vice presidents: Jonathan Reeves, who filed to sell 400,000 shares, worth $28.8 million; Jeffry Kiel, who marked for sale 105,779 shares valued at $7.6 million; and Kevin Oye, 100,000 shares, worth an estimated $7.2 million.
The eight insiders all disclosed they aimed to sell the shares on Dec. 12 through Morgan Stanley & Co.
Of note, a Form 144 only shows a filer's intent to sell the shares. Actual verification of the sales, if and when they occur, would be provided in a subsequent filing.
Based in Chelmsford, Mass., Sycamore Networks currently has about 272.6 million shares outstanding.
Late in Monday's market session, Sycamore shares were trading down by $4.63 at $50.56. |
