Having compiled the information from the five September 10, GRIN SEC filings:
Total shares exercised:
1,429,754
Average Exercise Price
$5.37
Total Shares Sold
1,667,112
Average Sale Price
$11.90.
They must be kicking themselves for those early sales on August 4 and August 16. Poor guys!!
On July 31, 1999, there were 1,577,597 shares outstanding. Now there are at least 3 million.
On June 30, 1999 there were 1,647,872 options outstanding. Now there are fewer than 200,000.
In other words, being intelligent people, THE INSIDERS EXERCISED VIRTUALLY ALL OF THEIR OPTIONS TO SELL INTO A MARKET EUPHORIA AT THE INFLATED PRICE OF $12 PER SHARE.
BY AUGUST 23, THEY HAD EXERCISED 65% OF THEIR OPTIONS AND SOLD THEM AT AN AVERAGE PRICE OF $8.90
Value of stock as perceived by Company insiders = $7.00 or less.
peter |
