I think you are on the money, margie. So far, there have been 9 Form 4 filings. There will be at least 5 more in the coming days. Here is a breakdown of activity for the 9 filings.
Cowell- Sold 5K then exercised 5K in options.
Johnson (our hero)- Sold 15K then excercised 34,555 in options.
Jackson- Sold 3K then excercised 3K in options.
Cowell- Sold 5K.
Simon- Sold 5K.
Cowell- Excercised 5K in options.
Knoppers- Sold 3K.
Cowell- Excercised 5K in options.
Knoppers- Sold 3K.
The majority of the the transactions took place at or just before tax day.
So far (but this could change with upcoming reports) Knopper is the only director showing a net decline in holdings.
So far for April, the directors have acquired 52,555 and sold 39,000 for a net increase in holdings of 13,555 shares.
A very approximate dollar number: They sold $3,000,000 in stock and bought all of it back (and then some) for $500,000.
It seems to me that their transactions increased their net worth by about $900,000. On the other hand, the drop in the stock price cost them $630,000. Thus for $270,000 the ticked off a lot of long term investors. |
