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98/10/28
10 10/28 T =IBM's Gerstner Sold 142,000 Shrs, Gaining $17M >IBM
NEW YORK (Dow Jones)--Intnernational Business Machines Corp. (IBM)
Chairman
and Chief Executive Officer Louis V. Gerstner sold 142,000 IBM shares
last week
for a gain of about $16.6 million.
Gerstner exercised an option on 150,000 shares with a strike price of
$23.94,
selling 142,000 of them for $140.92 a share. He held onto the remaining
8,000
shares.
In selling the shares, Gerstner was 'implementing a regular program
of asset
diversification and tax planning,' said Rob Wilson, an IBM spokesman.
Gerstner still holds 3.95 million IBM shares on option and owns
340,000
shares outright, Wilson said.
In May, Gerstner sold 138,000 shares $125.12 as part of a
150,000-share
option exercise. Wilson said that sale was part of the same asset
diversification plan.
Christopher Grimes (201) 938-5253 |
