Marketwatch.com <MKTW.O> insiders plan stock sales
WASHINGTON, July 28 (Reuters) - Several executives at
Marketwatch.com Inc. plan to sell some of their shares in the
online business news provider, according to Securities and
Exchange Commission filings on Wednesday.
Chief Executive Officer and President Lawrence Kramer plans
to sell 20,000 shares valued at $940,000 while Chief Financial
Officer Peter Bardwick plans to sell 12,000 shares worth
$564,000, their SEC documents showed.
Others who filed to sell stock are Vice President of
Advertising Sales Scot McLernon (7,500 shares) and Vice
President of Marketing Michele Chaboudy (5,000).
They all acquired the shares after exercising stock
options, according to their filings.
Kramer said it was the first opportunity insiders have had
to sell stock.
"For virtually all of our managers, this is the lion's
share of their wealth. This is the first chance they've had to
take anything out of it," he said.
So far Kramer has sold "under" 5,000 shares "and I don't
know if I'm going to sell the rest or not," he said, adding
that the 20,000 shares he filed to sell represent 10 percent of
his holdings in the company.
As for the others, "I don't think any of the department
heads or managers have filed for in excess of 10 percent."
Marketwatch, with more than 12 million shares currently
outstanding, is trading down 7/16 to $42 in afternoon Nasdaq
activity. The stock has a year-high of $130 a share.
((Peter Ramjug, 202-898-8399))
REUTERS
*** end of story ***
|
