Update: Kobi registered to do some selling too.
cbs.marketwatch.com
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Comverse Technology
Comverse Technology Chairman Kobi Alexander and Chief Executive Carmel Vernia filed to sell a combined 291,375 common shares of the telecommunications systems provider, valued at $42.3 million in the open market, according to regulatory filings released by the SEC.
Alexander planned to sell 147,000 shares, valued at $21.5 million, on Jan. 19.
Vernia intended to sell 144,375 shares on Jan. 18, valued at $20.8 million in the open market, as reported in SEC Filings yesterday.
Shares of Comverse, which have been climbing steadily, reached a 52-week high of 158 1/2 on Jan. 14, less than a week after Vernia and Alexandria planned to sell their shares.
Both executives planned to use Salomon Smith Barney to broker the transactions, according to the Form 144 filings.
Woodbury, N.Y.-based Comverse (CMVT: news, msgs) manufactures special purpose computer and telecommunications systems and software for multimedia communications and information processing applications.
An SEC Form 144 only shows a filer's intent to sell shares. Actual verification of sales, when they occur, are required in later filings.
There are an estimated 70.1 million shares of the company outstanding. The stock rose 4 13/16 to close at 145 7/8 on Wednesday.
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