Just received this info in email from EDGAR Online SECrets Newsletter 7/26/99 My apologies if it has been posted.
**ON THE INSIDE***
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Raymond Lane: Oracle
Raymond Lane, the President and Chief
Operating Officer of Oracle, filed a
Form 144 to sell 281,250 shares, amounting to about $10.8 million (he
has served this position since July
1996). Although Larry Ellison is the
CEO of Oracle, it is Lane who does the
day-to-day management of Oracle Ellison
co-founded Oracle in May 1977). Before
joining Oracle in 1992, Lane was a
senior vice president and managing
partner at Booz-Allen & Hamilton.
Oracle is a leading relational database
software developer. The company has
revenues of close to $9 billion and conducts business in more than 145
countries.
Interestingly enough, Jack Kemp is a
director of Oracle. He served as
Secretary of Housing and Urban
Development for George Bush. He was
also a member of the US House of
Representatives for 18 years. Kemp
sold 10,000 shares for $340,000.
If you go to EDGAR Online's "People Search,"
edgar-online.com
you will notice that Raymond Lane is a
director in two other high-tech
companies: Marimba (which recently
went public) and Quest Software (which
has filed to go public). As for Kemp,
he is a director of American Bankers
Insurance Group, Carson Inc., Everen
Capital and The Sports Authority.
For more information, read the Form 144 filings:
Raymond Lane:
edgar-online.com
Jack Kemp:
edgar-online.com
NOTE: According to SEC regulations, all
corporate insiders must file a Form 144
when selling stock in their company.
An "insider" is defined as an officer,
director or person or entity that owns
10% or more of any class of the
company's shares. The reason for the
Form 144 regulation is that insiders
are considered to have an unfair
advantage - since they are closely
aligned with the company - so the SEC
wants full disclosure. |
