Whoops. CEO was selling. Someone tell the PR director.
accessatlanta.com
Scientific-Atlanta chief files to sell stock
12:40 p.m. -- At a time when Scientific-Atlanta's (ticker symbol SFA) shares were rising to new peaks earlier this month, Chief Executive Officer James McDonald planned to sell 300,000 shares, according to Form 144 filings with the Securities and Exchange Commission.
McDonald
McDonald planned to sell 30,000 shares on or about Aug. 7, when the shares closed at $84.75. He planned to sell 40,000 shares on Aug. 11, when the shares closed at $93.38. He planned to sell 230,000 shares on Aug. 14, when they finished at $82.25.
All told, McDonald may have fetched more than $25 million from the sales, based on the closing prices of the shares on the filing dates. Scientific-Atlanta's shares rose to a 52-week peak of $94 on Aug. 11. The 52-week low is $16.90.
In the past, McDonald has sold shares of the communications equipment maker after exercising stock options. According to filings with the SEC, McDonald now holds 337,989 shares of Scientific-Atlanta directly and indirectly. Those shares were worth $25.6 million based on Thursday's price of $75.75 on the New York Stock Exchange.
McDonald also holds options that entitle him to acquire 2,036,400 shares at prices ranging from $14.13 to $51.78.
In trading Friday, Scientific-Atlanta's stock rose as high as $79.19. Robert Luke |
