Kimberly --
There's a difference between primary research and secondary. The former goes to the source, in this case the SEC documents themselves. The latter uses second-hand reports, in this case your quote from an on-line stock service.
Here's the SEC's website. Even though these documents take time to sort through, they have a wealth of information and are well worth your time.
sec.gov
If you want to read reports within several hours of being filed, use FreeEdgar: freeedgar.com
The lockup dates in question are from the 424b, and also mentioned in the S-8.
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As of December 31, 1999, our executive officers, directors and substantially all of our stockholders, who held an aggregate of 55,391,841 shares of our common stock, or over 97.9% of our total outstanding shares, had executed lock-up agreements that prevent them from selling or otherwise disposing of our common stock for a period of 180 days from the date of our initial public offering, or February 3, 2000, without the prior written approval of Morgan Stanley & Co. Incorporated. These lock-up agreements will expire on August 1, 2000, and an aggregate of 46,129,693 shares will be eligible for sale, in some cases subject only to the volume, manner of sale and notice requirements of Rule 144 under the Securities Act.
Notwithstanding the 180-day lock-up period, 25% of the shares, or 13,847,960 shares, subject to these lock-up restrictions, including 3,644,690 shares held by our executive officers and directors, may be released from these
restrictions beginning May 3, 2000. This release will occur if the last reported sale price of our common stock is at least two times the initial public offering price per share for 20 of the 30 trading days preceding the 90th day after February 3, 2000. Of these shares to be released on May 3, 2000, 11,315,945 will be eligible for sale, in some cases subject only to the volume, manner of sale and notice requirements of Rule 144.
Sales of a substantial number of shares of our common stock could cause our stock price to fall. In addition, the sale of these shares could impair our ability to raise capital through the sale of additional stock. . . .
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If you have any questions, I'm sure someone you trust more than me will be glad to walk you through it.
Pat |
