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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Boplicity who wrote (2594)10/12/1999 11:19:00 AM
From: BI*RI  Read Replies (1) of 15615
 
Could be that these institutions want to have the ability to sell shares in the future, for which they must first file form 144. August may have been the first month that the shares became unrestricted. Thus, they could simply be opting to have the ability to sell?

"Form 144 filings are indicated by ``Planned Sale'. Form 144s must be filed as notice of the proposed sale of restricted securities. Restricted securities are those that are acquired directly or indirectly from an issuer or an affiliate in a transaction (or chain of transactions) not involving a public offering.

An insider may file a Form 144 and not actually complete the sale. If the sale was completed, the insider should have filed a Form 4, indicating the transaction was completed."
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