Stac Software:Major Hldr Schleider Buys 302,080 Added Shrs
Tuesday, February 15, 2000 05:06 PM
SAN DIEGO (Dow Jones)--Stac Software Inc. said Peter D. Schleider, an outside director and one of its primary shareholders, acquired an additional 302,080 common shares of the company.
In a press release Tuesday, Stac Software said the acquisition boosts Schleider's stake in the company to 7.2% from 2.3%.
The company said Schleider acquired the shares upon completion of a negotiated transaction with Microsoft Corp., which had an investment in the company as a result of a 1994 settlement over intellectual-property issues.
Shares of Stac last traded at 7 3/8, up 1/4 or 3.5%, on Nasdaq volume of 35,300, compared with average daily volume of 54,120.
Stac Software, with 6.2 million publicly traded shares, develops total system recovery software.
-Dorothea Degen; Dow Jones Newswires; 201-938-5400
Closed at 8.94 + 21% |
